Try
if (([G/L Account] = '4100') and ([G/L Group] = 'PRODUCTION')) THEN ([Credit Amount] - [Debit Amount]) ELSE (0)
Error 126 is sometimes caused by unsupported type conversion functions, so it might be worth wrapping you expressions in cast varchar(50) to test if that's the case. You can also check cogserver.log file in cognos_installation/logs folder, there should be detailed error description.