How To Fix CRM_PRODUCT_FINANCE003 - Product &1 type &2 cannot be assigned, the product type is incorrect

SAP Error Message - Details

• Message type: E = Error

• Message class: CRM_PRODUCT_FINANCE - Message Class for CRM_PRODUCT_FINANCE Development Class

• Message number: 003

• Message text: Product &1 type &2 cannot be assigned, the product type is incorrect

What causes this issue?

In the relationship between "financing - financed by", only products in
product type 03 (financing) can be assigned as superior to products of
product type 01 (material) or 02 (service).
However product &1 that you assigned belongs to product type &2.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Assign a product belonging to the correct product type.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message CRM_PRODUCT_FINANCE003 - Product &1 type &2 cannot be assigned, the product type is incorrect ?

  The SAP error message CRM_PRODUCT_FINANCE003 indicates that there is an issue with the assignment of a product in the SAP CRM system. Specifically, the error states that the product type is incorrect for the operation you are trying to perform. Here’s a breakdown of the cause, potential solutions, and related information:
  Cause
  
  Incorrect Product Type: The product you are trying to assign or use in a financial context does not match the expected product type for that operation. For example, if a financial transaction expects a certain type of product (like a service or a physical product), and you are trying to assign a different type, this error will occur.
  Configuration Issues: There may be configuration settings in the SAP system that define which product types are valid for certain operations. If the product type you are using is not configured correctly, it can lead to this error.
  Data Inconsistencies: There may be inconsistencies in the product master data, such as missing or incorrect attributes that define the product type.
  
  Solution
  
  Check Product Type: Verify the product type of the product you are trying to assign. Ensure that it is compatible with the operation you are performing. You can do this by checking the product master data in the SAP system.
  Review Configuration: Check the configuration settings in the SAP system related to product types and their assignments. Ensure that the product type you are using is allowed for the specific financial operation.
  Correct Product Master Data: If there are inconsistencies in the product master data, correct them. This may involve updating the product type or other relevant attributes in the product master record.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidelines on product types and their usage in financial transactions.
  Contact Support: If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting with an SAP expert who can provide more detailed assistance.
  
  Related Information
  
  Transaction Codes: You may need to use transaction codes like CRMD_ORDER or CRMD_ORDERADM_H to view and manage product assignments in CRM.
  Product Master Data: Familiarize yourself with the product master data structure in SAP, including how product types are defined and used.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  User Roles and Authorizations: Ensure that you have the necessary authorizations to perform the operations related to product assignments.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.