How To Fix UCF6060 - Appr. retained earnings: 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: 060

• Message text: Appr. retained earnings: Item &1 is not a balance sheet item

What causes this issue?

In <DS:GLOS.D5692F24DA2CD511BCBF0800060D9C68>consolidation area</> &v2&
you determined that appropriations of retained earnings are to be
disclosed in the balance sheet. This is why all items you specify under
Appropriation of Retained Earnings on the following tab pages must have
the <DS:GLOS.615F0191A481D511B1250008C784EFB1>item type</> "balance
sheet":
"Group Adjustments"
"Minority Adjustments"
"Distribution of Dividends"
"Bonus Payment"
You specified item &V1&, which has a different item type.

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?

Either change the item type of item &V1&, or do not use this item.

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 UCF6060 - Appr. retained earnings: Item &1 is not a balance sheet item ?

  The SAP error message UCF6060, which states "Appr. retained earnings: Item &1 is not a balance sheet item," typically occurs during the process of closing the financial year or when trying to post to retained earnings. This error indicates that the system is expecting a balance sheet item, but the specified item (in this case, &1) is not classified as such.
  Cause:
  
  
  Incorrect Account Configuration: The account specified in the error message is not set up as a balance sheet account in the chart of accounts. In SAP, accounts are classified as either balance sheet accounts or income statement accounts, and retained earnings should only be posted to balance sheet accounts.
  
  
  Posting to the Wrong Account: The system may be trying to post retained earnings to an account that is not intended for that purpose, such as an income statement account.
  
  
  Incorrect Settings in Financial Statement Version: The financial statement version may not be configured correctly, leading to the system not recognizing the account as a balance sheet item.
  
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the account master data (transaction code FS00) and check the account type for the account specified in the error message.
  Ensure that the account is set up as a balance sheet account (Account Type "B" for balance sheet).
  
  
  
  Review Posting Logic:
  
  Ensure that the posting logic is correct and that you are attempting to post to the correct account for retained earnings.
  If you are using a specific transaction or program to post retained earnings, verify that it is configured correctly.
  
  
  
  Adjust Financial Statement Version:
  
  Check the financial statement version settings (transaction code OB58) to ensure that the account is included in the balance sheet section.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for any specific configurations or settings that may be required for your particular implementation.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test posting to ensure that the error does not reoccur.
  
  
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FS00 (Account Master), OB58 (Financial Statement Version), and others that may help in troubleshooting.
  User Roles and Authorizations: Ensure that you have the necessary authorizations to make changes to account settings and configurations.
  
  If the issue persists after following these steps, it may be beneficial to engage with your SAP support team or a consultant who specializes in SAP Financials for further assistance.