Settlement of WBS to GL (Loans & Advances)

[Former Member]

Hi,

We are on ECC6- EHP4. My requirement is: We want to use WBS strucuture, but the amounts debited to this wbs needs to be settled to GL account - Loans and advances. Based on this I have created a separte settlement profiile and attached it to this project. Now in settlement rule I am getting GL account, but at the time of settlement I am getting folllowing error.

Define a settlement cost element for receiver type G/L

Message no. KD506

Diagnosis

In allocation structure Z1 (controlling area GVK), you did not define which cost element should be used when settling costs/revenues of the sender. Nor did you define receiver type G/L.

Procedure

Assign a different allocation structure to the settlement sender (-> Master data -> Settlement rule -> Goto -> Settlement parameters), or maintain allocation structure Z1.

Please advise

Shailesh

[Former Member]

resolved.

[Former Member]

Hi,

The error diagnosis is self explanatory. Modify your allocation structure to include the cost element which will be used when settling the values from the sender. You can take the help of your CO consultant for this. Its pretty easy and once you have modified the allocation structure you will be able to proceed further.

Regards,

Gokul

[Former Member]

Hi,

Thanks for quick resposne.

Does it mean, I will have to create a cost element for Balance Sheet GL " Loans and advances"?

[Former Member]

I guess so. It would be better if you could take help from your FICO consultant. They would be able to assist you better in this case, considering your business scenario.

[former_member388328]

Hi,

Please goto

1) spro - project systems -- costs - automatic and periodic allocations-- settlement - settlement profile -- create settlement profile. Double click on your settlement profile and see what is allocation structure assigned there.

2) spro - project systems -- costs - automatic and periodic allocations-- settlement - settlement profile -- create allocation structure. highlight your allocation structure. double click on assignments. again select the source cost elements and double click on the settlement cost elements. select new entries , select G/L and assign a cost element with category 22.

Thanking you

Vengaiah Chowdary