How To Fix UCF6062 - Appr.ret.earn.: Annual net income: 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: 062

• Message text: Appr.ret.earn.: Annual net income: Item &1 is not a balance sheet item

*** like ucf6 060 ***

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 tab page "Annual Net Income" in
group box "Annual Net Income: Appropriation of Retained Earnings" must
have the <DS:GLOS.615F0191A481D511B1250008C784EFB1>item type</>
"balance sheet".
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 UCF6062 - Appr.ret.earn.: Annual net income: Item &1 is not a balance sheet item ?

  The SAP error message UCF6062, which states "Appr.ret.earn.: Annual net income: Item &1 is not a balance sheet item," typically occurs in the context of financial reporting or when working with the Universal Journal in SAP S/4HANA. This error indicates that the system is expecting a balance sheet item for the calculation of retained earnings, but the specified item is not classified as such.
  Cause:
  
  Incorrect Account Type: The account specified in the error message (&1) is not set up as a balance sheet account in the chart of accounts. This could happen if the account is classified as a profit and loss (P&L) account instead of a balance sheet account.
  Configuration Issues: There may be issues with the configuration of the financial statement version or the way the accounts are mapped in the system.
  Data Entry Errors: There could be a mistake in the data entry where a P&L account is mistakenly referenced when a balance sheet account is required.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the account master data for the account in question (transaction code FS00).
  Verify that the account type is set correctly. It should be a balance sheet account (typically, account type "A" for assets or "L" for liabilities) if it is being used for retained earnings.
  
  
  
  Review Financial Statement Version:
  
  Check the financial statement version configuration (transaction code OB58).
  Ensure that the account is correctly included in the balance sheet section of the financial statement version.
  
  
  
  Adjust Mapping:
  
  If the account is incorrectly mapped, you may need to adjust the mapping in the financial statement version or the retained earnings configuration.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for specific guidance on retained earnings and balance sheet account configurations.
  
  
  
  Testing:
  
  After making changes, perform a test run to ensure that the error no longer occurs and that the financial reports are generated correctly.
  
  
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that might 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 be useful in troubleshooting.
  User Roles: Ensure that you have the necessary authorizations to make changes to account configurations and financial statement versions.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a financial consultant who specializes in SAP configurations.