How To Fix PSM_S4C_FM_MD247 - Account cannot be a revenue account.

SAP Error Message - Details

• Message type: E = Error

• Message class: PSM_S4C_FM_MD -

• Message number: 247

• Message text: Account cannot be a revenue account.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message PSM_S4C_FM_MD247 - Account cannot be a revenue account. ?

  The SAP error message PSM_S4C_FM_MD247 indicates that the account you are trying to use is classified as a revenue account, which is not allowed in the context of the operation you are attempting to perform. This error typically arises in the Public Sector Management (PSM) module when dealing with funds management or budgetary control.
  Cause:
  
  Account Type Misconfiguration: The account you are trying to use is set up as a revenue account in the chart of accounts, but the transaction you are attempting to execute requires a different type of account (e.g., expense or asset account).
  Transaction Context: The specific transaction or operation you are performing may not allow revenue accounts due to the nature of the financial posting or budgetary control rules.
  Incorrect Account Assignment: The account may have been incorrectly assigned in the configuration or during the transaction entry.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the account master data in SAP and verify the account type. Ensure that the account is configured correctly for the intended use.
  If the account is indeed a revenue account, consider whether you should be using a different account type for the transaction.
  
  
  
  Use the Correct Account:
  
  Identify the appropriate account that should be used for the transaction. This may involve consulting with your finance team or reviewing the chart of accounts to find an appropriate expense or asset account.
  
  
  
  Review Transaction Type:
  
  Ensure that the transaction you are trying to execute is appropriate for the account type you are using. If you are trying to post an expense, make sure you are using an expense account.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or your organization's internal guidelines regarding account usage in the PSM module to ensure compliance with financial regulations and practices.
  
  
  
  Seek Help from SAP Support:
  
  If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting SAP Notes for any known issues or additional guidance related to this error message.
  
  
  
  Related Information:
  
  SAP Notes: Check SAP Notes for any updates or patches related to this error message. SAP frequently releases updates that may address specific issues.
  Training and Documentation: Ensure that users involved in financial postings are trained on the correct use of accounts and the implications of using different account types.
  Configuration Review: Regularly review the configuration of your chart of accounts and account assignments to ensure they align with your organization's financial processes and reporting requirements.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.