How To Fix DFS_POSITION_COMMON162 - Enter a valid convention type for the convention.

SAP Error Message - Details

• Message type: E = Error

• Message class: DFS_POSITION_COMMON - Message Class for Defense Position Common

• Message number: 162

• Message text: Enter a valid convention type for the convention.

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message DFS_POSITION_COMMON162 - Enter a valid convention type for the convention. ?

  The SAP error message DFS_POSITION_COMMON162 typically indicates that there is an issue with the convention type being used in a financial transaction or position management process. This error often arises in the context of financial instruments, such as derivatives or other complex financial products, where specific conventions (like day count conventions, payment conventions, etc.) are required for proper processing.
  Cause:
  
  Invalid Convention Type: The convention type entered does not exist in the system or is not valid for the specific transaction or financial instrument being processed.
  Configuration Issues: The configuration settings for the financial instruments may not be set up correctly, leading to the system not recognizing the convention type.
  Data Entry Errors: There may be a typographical error or incorrect selection in the user interface when entering the convention type.
  Missing Master Data: The necessary master data for the financial instrument or transaction may not be maintained in the system.
  
  Solution:
  
  Check Convention Type: Verify that the convention type you are entering is valid. You can do this by checking the configuration settings in the SAP system or consulting the documentation for the specific financial product.
  Review Configuration: Ensure that the configuration for the financial instruments is correctly set up. This may involve checking the settings in the relevant customizing transactions (e.g., SPRO).
  Correct Data Entry: Double-check the data entry for any typographical errors or incorrect selections. Make sure you are using the correct codes or descriptions for the convention type.
  Maintain Master Data: If the convention type is missing, you may need to create or update the relevant master data in the system. This could involve creating a new convention type or updating existing records.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on the financial instruments and their required conventions.
  
  Related Information:
  
  Transaction Codes: Depending on the context, you may need to use specific transaction codes to access configuration settings or master data (e.g., SPRO for configuration, or transaction codes related to financial instruments).
  SAP Notes: Check for any relevant SAP Notes that may address this error or provide additional guidance on configuration and setup.
  User Forums: Consider searching or posting in SAP community forums for insights from other users who may have encountered similar issues.
  
  If the problem persists after following these steps, it may be beneficial to consult with your SAP support team or a technical consultant who specializes in the relevant module.