3018038 - Foreign Currency Valuation error Account & requires an assignment to a CO object

On Foreign Currency Valuation one of the following errors occurs

Account & requires a true account assignment relevant to cost accounting

Account & requires an assignment to a CO object

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SAP S/4HANA Cloud

Perform Foreign Currency Valuation using app Schedule General Ledger Jobs (APP ID F1927) Job template Foreign Currency Valuation or  App Perform Foreign Currency Valuation (APP ID FAGL_FCV)

1. Account concerned is defined as a cost element.  An account assigned as cost element must contain a real CO Object.

2. The usage of a G/L account with cost element type 11 (Revenue) is not appropriate for posting gains resulting from exchange rate differences.

A FX gain account with cost element category 11 (revenues) can lead to errors or to issues in follow-up processes or reporting

In Configuration Activity Automatic Account Determination  ID 100297

Area: Finance Accounting

Subarea: General Ledger Accounting

Process: Define Accounts for Exchange Rate Differences

Transaction key: KDF

Chart of Accounts: As configured example YCOA

Enter in account to Value 

• Use a G/L account as FX gain account with either cost element category  "1" (primary costs/cost-reducing revenues) or " " (no cost element).
• With either setting the account assignment to a cost center will not cause a problem.  See kba 2628966 - Error: Account & requires an assignment to a CO object for methods to derive CO Object. 
• The G/L accounts which are provided by SAP in default content have cost element category "1" (primary costs/cost-reducing revenues).

KDF_Exchange Rate Dif: Open Items/GL Acct

3400680 - Release Information Note: Automatic Account Determination for S/4HANA Cloud Edition 2402

2893557 -  Valuation of Foreign Currency

2857528 - Ex.rate diff.accts are incomplete for account

2628966 - Error: Account & requires an assignment to a CO object

3009065 - Please assign account assignment object &1 &2 to a profit center.

Foreign Currency Valuation 

kdf, foreign currency valuation, FXV, gain, loss, cost element type 11 ,revenue, profitability segment, OKB9, KI248, CSKB-KATYP , KBA , FI-GL-GL-G , Closing Operations / Period-End , FI-FIO-GL , Fiori UI for General Ledger Accounting , FI-GL-GL-G-2CL , Closing Operations / Period-End (Public Cloud) , Problem