How To Fix FI701 - Error in reading application of funds

SAP Error Message - Details

• Message type: E = Error

• Message class: FI - TR-FM Funds Management

• Message number: 701

• Message text: Error in reading application of funds

What causes this issue?

An error occurred when the application of funds was being read from the
database.

System Response

This error cannot be cleared within the application.

How to fix this error?

Notify your system administrator.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FI701 - Error in reading application of funds ?

  The SAP error message FI701, which states "Error in reading application of funds," typically occurs in the context of the Funds Management (FM) module in SAP. This error indicates that there is an issue with the application of funds, which can arise from various reasons. Below are some common causes, potential solutions, and related information for this error:
  Causes:
  
  Missing or Incorrect Configuration: The configuration for the Funds Management module may not be set up correctly, leading to issues in reading the application of funds.
  Data Inconsistencies: There may be inconsistencies in the master data or transaction data related to funds management.
  Authorization Issues: The user may not have the necessary authorizations to access the funds management data.
  Incorrect Document Types: The document type used in the transaction may not be compatible with the funds management settings.
  Missing Funds Center or Commitment Item: The funds center or commitment item may not be defined or may be inactive.
  
  Solutions:
  
  Check Configuration: Review the configuration settings in the Funds Management module to ensure that everything is set up correctly. This includes checking the settings for funds centers, commitment items, and budget types.
  Validate Master Data: Ensure that all relevant master data (e.g., funds centers, commitment items) is correctly defined and active. You can use transaction codes like FMX1 (Create Funds Center) or FMX2 (Change Funds Center) to check this.
  Review Authorizations: Verify that the user has the necessary authorizations to access and process funds management data. This can be checked in the user roles and profiles.
  Check Document Types: Ensure that the document type being used is compatible with the funds management settings. You may need to adjust the document type configuration.
  Analyze Transaction Data: Look for any inconsistencies in the transaction data that may be causing the error. This can include checking for missing or incorrect entries in the relevant fields.
  Use Transaction Codes for Troubleshooting: Utilize transaction codes like FMAVCR01 (Display Commitment) or FMAVCR02 (Display Actuals) to analyze the commitments and actuals related to the funds management.
  
  Related Information:
  
  SAP Notes: Check SAP Notes for any known issues or patches related to the FI701 error. SAP Notes can provide specific guidance or fixes for known problems.
  Transaction Codes: Familiarize yourself with relevant transaction codes in the Funds Management module, such as FMX1, FMX2, FMAVCR01, and FMAVCR02.
  Documentation: Refer to SAP documentation or help guides for detailed information on Funds Management configuration and troubleshooting.
  
  If the issue persists after trying the above solutions, it may be beneficial to consult with your SAP support team or reach out to SAP support for further assistance.