How To Fix FI024 - Company code & without FM area activated for finance update purposes

SAP Error Message - Details

• Message type: E = Error

• Message class: FI - TR-FM Funds Management

• Message number: 024

• Message text: Company code & without FM area activated for finance update purposes

What causes this issue?

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

System Response

How to fix this error?

In the Implementation Guide (IMG), check the following settings:
which FM areas you have created
which company codes you have assigned to which FM areas
which FM areas you have activated in Funds Management

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FI024 - Company code & without FM area activated for finance update purposes ?

  The SAP error message FI024 indicates that a company code is being used in a financial transaction without having a corresponding Funds Management (FM) area activated for finance update purposes. This typically occurs in environments where both Financial Accounting (FI) and Funds Management (FM) are used, and the system requires that a company code must have an FM area assigned to it for certain financial operations.
  Cause:
  
  FM Area Not Assigned: The company code in question does not have an FM area assigned to it in the system.
  Configuration Issues: The configuration settings in the SAP system may not have been set up correctly to link the company code with the FM area.
  Transaction Type: The transaction being executed may require FM integration, which is not available for the specified company code.
  
  Solution:
  To resolve the FI024 error, you can follow these steps:
  
  
  Check FM Area Assignment:
  
  Go to the SAP transaction code OBY6 (or navigate through the menu: SPRO > Financial Accounting > Financial Accounting Global Settings > Assign Company Code to FM Area).
  Verify if the company code is assigned to an FM area. If not, you will need to assign it.
  
  
  
  Assign FM Area:
  
  If the company code is not assigned to any FM area, you can create a new FM area or assign an existing one to the company code.
  Ensure that the FM area is properly configured to handle the financial transactions you intend to process.
  
  
  
  Check Configuration:
  
  Review the configuration settings in the Funds Management module to ensure that all necessary settings are in place for the company code and FM area.
  Make sure that the FM area is activated for the relevant company code.
  
  
  
  Test the Transaction:
  
  After making the necessary changes, test the transaction again to see if the error persists.
  
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OBY6 - Assign Company Code to FM Area
  FMX1 - Create FM Area
  FMX2 - Change FM Area
  FMX3 - Display FM Area
  
  
  
  Documentation: Refer to SAP Help documentation for detailed steps on configuring Funds Management and Financial Accounting integration.
  
  
  User Roles: Ensure that you have the necessary authorizations to make changes to the configuration settings.
  
  
  Consulting SAP Notes: Check for any relevant SAP Notes that may address specific issues related to the FI024 error message.
  
  
  By following these steps, you should be able to resolve the FI024 error and ensure that your company code is properly configured for financial updates in the SAP system.