Error when createing cost element

Question

Dear Friends ,
Following error appering when createing cost element , please suggest and explain the process in details ,
Create the G/L account 94100040 first
Message no. KS034
Diagnosis
You chose the function "Create primary cost element". Primary cost elements/revenue elements must have an equivalent in FI, meaning the account must already exist as a G/L account in FI. Account 94100040 was not created in FI, so you cannot create it as a primary cost element.
Procedure
Check whether you need to create cost element 94100040 as a primary cost element and for what purpose it is to be used for.
If the cost element is to be assigned to accounts in FI, create a G/L account in an FI company code.
Manually create G/L account
If it is not to be assigned to FI accounts (additional CO costs), it suffices to create the G/L account as a chart of accounts item.
Create G/L account in chart of accounts
You can create the cost element as a secondary cost element in CO. This does not require an equivalent account in FI.
Regards
Raghu

Answer 1

Hi,
use T.code FS00 and enter G/L account number and co.code and enter required details and in application tollbar click edit cost element and enter required details.1st consult FICO consultant for above and use of G/L account group and other details for creating G/L.You can cretae Cost Element in t.code: KA01 also.
For more check the links to Create Primary and Secondary Cost Elements
http://www.copacustomhelp.state.pa.us/infopak/nav/finance/controlling/file1402/index.htm
http://www.copacustomhelp.state.pa.us/infopak/nav/finance/controlling/file2595/index.htm
http://www.sap-basis-abap.com/sapco004.htm
Regards,
Biju K