How To Fix REMICL021 - No leading lease-out entered in conversion Customizing for &1/&2

SAP Error Message - Details

• Message type: E = Error

• Message class: REMICL - Texts for Migration of Classic RE => RE-FX

• Message number: 021

• Message text: No leading lease-out entered in conversion Customizing for &1/&2

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message REMICL021 - No leading lease-out entered in conversion Customizing for &1/&2 ?

  The SAP error message REMICL021 indicates that there is no leading lease-out entered in the conversion customizing for the specified object types (denoted by &1 and &2). This error typically occurs in the context of lease accounting, particularly when dealing with the migration of lease data from one system to another or during the implementation of the new lease accounting standards (like IFRS 16 or ASC 842).
  Cause:
  The error arises when the system expects a leading lease-out entry in the configuration settings for the conversion process, but it cannot find one. This can happen due to:
  
  Missing Configuration: The necessary configuration for lease-out entries has not been set up in the system.
  Incorrect Object Types: The object types specified in the error message may not have been correctly defined in the customizing settings.
  Data Migration Issues: During data migration, the required entries may not have been included or were incorrectly mapped.
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check Customizing Settings:
  
  Go to the SAP Customizing Implementation Guide (IMG) and navigate to the relevant section for lease accounting.
  Ensure that the leading lease-out entries are correctly defined for the object types in question. This typically involves checking the settings under:
  
  Financial Accounting (New) > Lease Accounting > Conversion > Define Leading Lease-Outs.
  
  
  
  
  
  Define Leading Lease-Outs:
  
  If the leading lease-out entries are missing, you will need to create them. Make sure to enter the correct object types and any other required details.
  
  
  
  Review Migration Data:
  
  If you are migrating data, ensure that the data being imported includes the necessary lease-out entries and that they are correctly mapped to the corresponding object types.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to lease accounting and the specific error message for any additional guidance or updates.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test run of the conversion process to ensure that the error is resolved.
  
  
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may provide additional insights or fixes related to this error.
  SAP Community: Engage with the SAP Community forums to see if other users have encountered similar issues and what solutions they have found.
  Training and Documentation: Consider reviewing training materials or documentation related to SAP Lease Accounting to better understand the configuration and data migration processes.
  
  By following these steps, you should be able to resolve the REMICL021 error and ensure that your lease accounting configuration is correctly set up for the conversion process.