How To Fix 53205 - Premium formula &2 is unknown or cannot be used

53205 - Overview

• Message type: E = Error

• Message class: 53 - Incentive Wages Data

• Message number: 205

• Message text: Premium formula &2 is unknown or cannot be used

What causes this issue?

The premium formula &V2& for country grouping &V1& is unknown in the
payroll period, or it may not be used to calculate periodic or daily
results.

System Response

How to fix this error?

Correct your entry.

Error message extract from SAP system. Copyright SAP SE.

53205 - Details

• The SAP error message "53205 Premium formula &2 is unknown or cannot be used" typically occurs in the context of SAP's insurance or financial modules, particularly when dealing with premium calculations in insurance policies. This error indicates that the system cannot find or utilize the specified premium formula.
  Causes:
  
  Missing Formula Definition: The premium formula referenced in the error message may not be defined in the system.
  Incorrect Formula Name: There may be a typo or incorrect reference to the formula name in the configuration or transaction.
  Inactive Formula: The formula might exist but is not active or has been deactivated.
  Authorization Issues: The user may not have the necessary permissions to access the formula.
  Configuration Errors: There may be issues in the configuration settings related to the insurance product or policy.
  
  Solutions:
  
  
  Check Formula Definition:
  
  Navigate to the relevant configuration area in SAP (usually under the insurance or financial module) and verify that the premium formula is defined