How To Fix PM157 - A name for clearing account &1 in chart of accounts &2 is not maintained

PM157 - Overview

• Message type: E = Error

• Message class: PM - Extended Payment Functions

• Message number: 157

• Message text: A name for clearing account &1 in chart of accounts &2 is not maintained

What causes this issue?

The long text name belonging to the G/L account specified has not been
maintained.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Maintain the long text name of the G/L account specified in the G/L
account master record (table SKAT).

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message PM157 - A name for clearing account &1 in chart of accounts &2 is not maintained ?

  The SAP error message PM157 indicates that a clearing account name for a specific clearing account in a particular chart of accounts is not maintained. This error typically arises in the context of asset accounting or financial transactions where a clearing account is required but not properly configured.
  
  Cause:
  
  Missing Clearing Account Name: The clearing account for the specified chart of accounts has not been defined or is incomplete.
  
  Configuration Issues: The configuration settings in the Asset Accounting (FI-AA) module may not have been set up correctly.
  Chart of Accounts Issues: The chart of accounts being used may not have the necessary entries for the clearing account.
  
  
  Solution:
  To resolve the PM157 error, follow these steps:
  
  
  Check Clearing Account Configuration:
  
  Go to the transaction code OBY6 (or navigate through the menu: Financial Accounting > General Ledger > Master Records > G/L Account > Create/Change).
  Verify that the clearing account is defined for the specified chart of accounts.
  Ensure that the