How To Fix 3F718 - Set either the monetary or currency budget indicator for the budget type

SAP Error Message - Details

• Message type: E = Error

• Message class: 3F - Compensation Management

• Message number: 718

• Message text: Set either the monetary or currency budget indicator for the budget type

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message 3F718 - Set either the monetary or currency budget indicator for the budget type ?

  The SAP error message 3F718 indicates that there is an issue with the budget configuration in the system. Specifically, it suggests that either the monetary budget indicator or the currency budget indicator has not been set for the specified budget type. This error typically occurs in the context of budget management within SAP, particularly in modules like SAP Controlling (CO) or SAP Public Sector Management (PSM).
  Cause:
  The error arises when:
  
  A budget type is being used in a transaction (like budget planning or budget execution) that requires either a monetary or currency budget indicator to be defined.
  The budget type configuration in the system is incomplete or incorrect, lacking the necessary indicators.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Budget Type Configuration:
  
  Go to the configuration settings for budget types in SAP. This can typically be found in the SPRO transaction under:
  SPRO -> Public Sector Management -> Budgeting -> Budget Control System -> Define Budget Types
  
  Look for the budget type that is causing the error and ensure that either the monetary budget indicator or the currency budget indicator is set.
  
  
  
  Set Indicators:
  
  If the indicators are not set, you will need to define them. You can do this by editing the budget type and selecting the appropriate indicators based on your organization's budgeting requirements.
  
  
  
  Test the Configuration:
  
  After making the necessary changes, test the configuration by attempting the transaction that previously resulted in the error. Ensure that the budget type is now functioning correctly.
  
  
  
  Consult Documentation:
  
  If you are unsure about the correct settings for your specific scenario, refer to SAP documentation or consult with your SAP functional consultant for guidance on best practices for budget type configuration.
  
  
  
  Check User Authorizations:
  
  Ensure that the user executing the transaction has the necessary authorizations to access and modify budget types.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as SPRO for configuration, FMBB for budget adjustments, and FMAVCR01 for budget availability control.
  SAP Notes: Check for any SAP Notes related to budget types and error message 3F718 for additional insights or patches that may address known issues.
  Training and Documentation: Consider training sessions or documentation on budget management in SAP to better understand the implications of budget types and their configurations.
  
  By following these steps, you should be able to resolve the error message 3F718 and ensure that your budget types are correctly configured for use in SAP.