How To Fix FAA_CFG_PARALLEL_VAL001 - Activity not allowed, since BF FIN_AA_PARALLEL_VAL is not activated

SAP Error Message - Details

• Message type: E = Error

• Message class: FAA_CFG_PARALLEL_VAL - Messages for BF FIN_AA_PARALLEL_VAL

• Message number: 001

• Message text: Activity not allowed, since BF FIN_AA_PARALLEL_VAL is not activated

What causes this issue?

The activity you have executed requires the business function <LS>FI-AA,
Parallel Valuation</> (<AB>FIN_AA_PARALLEL_VAL</>) to be activated and
the Customizing switch for new Asset Accounting (<AB>PARALLEL_VAL</>) to
be active. This is <ZH>not</> the case, however.

System Response

Processing is terminated in order to prevent data inconsistencies.

How to fix this error?

Ensure the following:
The aforementioned business function is active system wide.
The aforementioned Customizing switch is active in the current client.
For more information, see <DS:SIMG.T093BSN_PV01_DC>Prepare New Asset
Accounting</>.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CFG_PARALLEL_VAL001 - Activity not allowed, since BF FIN_AA_PARALLEL_VAL is not activated ?

  The SAP error message "FAA_CFG_PARALLEL_VAL001 Activity not allowed, since BF FIN_AA_PARALLEL_VAL is not activated" typically occurs in the context of Asset Accounting (FI-AA) when trying to perform an operation that requires the parallel valuation feature to be activated, but it is not currently enabled in the system.
  Cause:
  The error is caused by the fact that the parallel valuation feature for Asset Accounting (FI-AA) is not activated in the system. This feature allows for the management of multiple valuations of assets, which is often required for compliance with different accounting standards (e.g., IFRS vs. local GAAP).
  Solution:
  To resolve this error, you need to activate the parallel valuation feature in your SAP system. Here are the steps to do this:
  
  
  Access the Customizing Transaction:
  
  Go to transaction code SPRO to access the SAP Reference IMG (Implementation Guide).
  
  
  
  Navigate to the Asset Accounting Settings:
  
  Follow the path: Financial Accounting (New) -> Asset Accounting -> Integration -> Activate Parallel Valuation.
  
  
  
  Activate Parallel Valuation:
  
  In the settings, you will find an option to activate the parallel valuation. Ensure that the necessary configurations are made to enable this feature.
  
  
  
  Check Configuration:
  
  After activation, ensure that the necessary configurations for the valuation methods and accounting principles are set up correctly.
  
  
  
  Test the Configuration:
  
  After making the changes, perform a test transaction that previously resulted in the error to confirm that the issue has been resolved.
  
  
  
  Related Information:
  
  Documentation: Refer to the SAP Help Portal for detailed documentation on Asset Accounting and parallel valuation.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as AS01 (Create Asset), AS02 (Change Asset), and AS03 (Display Asset) to test the functionality.
  User Authorizations: Ensure that you have the necessary authorizations to make changes in the configuration settings.
  Consult SAP Notes: Check for any relevant SAP Notes that may provide additional guidance or updates related to this error.
  
  If you continue to experience issues after following these steps, it may be beneficial to consult with your SAP Basis or FI-AA functional team for further assistance.