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

CRM_PRODUCT_FINANCE003 - Overview

• 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.

CRM_PRODUCT_FINANCE003 - Details

• 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