How To Fix FARR_APPLICATION003 - Advanced Valuation not active for CoCd &1 and AcctPr. &2 in period &3

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_APPLICATION - General Revenue Accounting Applications and Code

• Message number: 003

• Message text: Advanced Valuation not active for CoCd &1 and AcctPr. &2 in period &3

Self-Explanatory Message

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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.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_APPLICATION003 - Advanced Valuation not active for CoCd &1 and AcctPr. &2 in period &3 ?

  The SAP error message FARR_APPLICATION003 indicates that the advanced valuation functionality is not active for the specified company code (CoCd) and accounting period (AcctPr) in the given period. This error typically arises in the context of financial accounting and asset accounting when trying to perform operations that require advanced valuation features.
  Cause:
  
  Advanced Valuation Not Activated: The advanced valuation feature may not be activated for the specified company code in the system settings.
  Incorrect Configuration: The configuration settings for the company code or the accounting period may not be set up correctly.
  Period Status: The accounting period may be closed or not open for posting, which can prevent advanced valuation from being processed.
  Missing Authorizations: The user may not have the necessary authorizations to access advanced valuation features.
  
  Solution:
  
  
  Activate Advanced Valuation:
  
  Go to the configuration settings in SAP (Transaction code: SPRO).
  Navigate to Financial Accounting (New) > Asset Accounting > Valuation > Activate Advanced Valuation.
  Ensure that the advanced valuation is activated for the relevant company code.
  
  
  
  Check Configuration:
  
  Verify the configuration settings for the company code and ensure that all necessary parameters for advanced valuation are correctly set.
  Check if the valuation area is correctly assigned to the company code.
  
  
  
  Open the Accounting Period:
  
  Ensure that the accounting period you are trying to post to is open. You can check this in the transaction code OB52 (Open and Close Posting Periods).
  If the period is closed, you may need to open it or post to a different open period.
  
  
  
  Review User Authorizations:
  
  Check if the user has the necessary authorizations to perform advanced valuation operations. This can be done by reviewing the user roles and authorizations in the system.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for more detailed guidance on advanced valuation and its configuration.
  
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  SPRO (Customizing)
  OB52 (Open and Close Posting Periods)
  OAYZ (Settings for Asset Accounting)
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to advanced valuation and this error message.
  
  
  Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  By following these steps, you should be able to resolve the error message FARR_APPLICATION003 and successfully utilize the advanced valuation features in SAP.