How To Fix UCF6024 - Selected items (master data): Item &1 is not a balance sheet item

SAP Error Message - Details

• Message type: E = Error

• Message class: UCF6 - Messages for Consolidation of Investments

• Message number: 024

• Message text: Selected items (master data): Item &1 is not a balance sheet item

What causes this issue?

Only items with the item type "Balance Sheet" may be specified on tab
page <ZK>Clearing - Balance Sheet</> in path <ZK>Master Data -> Items
-> Selected Items</>.
Item &V1& has a different item type.

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

System Response

How to fix this error?

Specify an item with item type "Balance Sheet".

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message UCF6024 - Selected items (master data): Item &1 is not a balance sheet item ?

  The SAP error message UCF6024 indicates that the selected item in the master data is not classified as a balance sheet item. This typically occurs in the context of financial reporting or when working with certain financial transactions that require specific classifications of accounts.
  Cause:
  
  Account Classification: The item (account) you are trying to use is not set up as a balance sheet item in the system. In SAP, accounts are classified as either balance sheet accounts or profit and loss accounts. This classification is crucial for financial reporting and consolidation processes.
  Master Data Configuration: The master data for the account may not have been configured correctly, or the account type may not align with the requirements of the transaction you are attempting to perform.
  Transaction Context: The transaction or report you are trying to execute may specifically require balance sheet items, and the selected item does not meet this criterion.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the account master data in SAP (transaction code FS00 for G/L accounts).
  Verify the account type and ensure that it is set as a balance sheet account if it is intended to be used in that context.
  If the account is incorrectly classified, you may need to change its settings or create a new account with the correct classification.
  
  
  
  Review Transaction Requirements:
  
  Ensure that the transaction or report you are executing is appropriate for the selected account. If it requires balance sheet items, make sure you are selecting the correct accounts.
  
  
  
  Consult with Financial Team:
  
  If you are unsure about the classification of accounts or the implications of changing account settings, consult with your finance or accounting team. They can provide guidance on the correct account usage and classification.
  
  
  
  Testing:
  
  After making any changes, test the transaction again to ensure that the error is resolved.
  
  
  
  Related Information:
  
  SAP Documentation: Refer to SAP Help documentation for detailed information on account types and classifications.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FS00 (G/L Account Master Data), OB52 (Open and Close Posting Periods), and others that may be relevant to your financial processes.
  User Roles and Authorizations: Ensure that you have the necessary permissions to view and modify account master data.
  
  By following these steps, you should be able to resolve the UCF6024 error and ensure that your financial transactions are processed correctly.