How To Fix FINS_ACDOC_CUST350 - No currency and valuation profile assigned to controlling area &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_ACDOC_CUST - Unified Journal Entry - Customizing

• Message number: 350

• Message text: No currency and valuation profile assigned to controlling area &1

What causes this issue?

In the Customizing settings for
<DS:SIMG.V_FCML_MLCO_COFI>Multiple Accounting Principles in Controlling
(COGM)</>, an entry exists for company code &V1& and <LS>Excl. Update</>
= &V2&.

System Response

No <LS>Currency and Valuation Profile</> is assigned to controlling area
&V3&.

How to fix this error?

Please check the relevant settings in the
<DS:SIMG.SIMG_ORK3SM30_WAEHR>Assign Currency and Valuation Profile to
Controlling Area</> activity.

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 FINS_ACDOC_CUST350 - No currency and valuation profile assigned to controlling area &1 ?

  The SAP error message FINS_ACDOC_CUST350 indicates that there is no currency and valuation profile assigned to the specified controlling area. This error typically arises when you are trying to perform a financial transaction or reporting that requires a currency and valuation profile, but the system cannot find the necessary configuration for the controlling area in question.
  Cause:
  
  Missing Configuration: The controlling area has not been assigned a currency and valuation profile in the system.
  Incorrect Settings: The settings for the controlling area may be incomplete or incorrectly configured.
  Transport Issues: If the configuration was recently transported from another system, it may not have been properly set up in the target system.
  
  Solution:
  To resolve this error, you need to assign a currency and valuation profile to the controlling area. Here are the steps to do this:
  
  
  Access the Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to SPRO (SAP Project Reference Object) > SAP Reference IMG.
  
  
  
  Find the Controlling Area Settings:
  
  Follow the path: Controlling > General Controlling > Master Data > Controlling Area > Define Controlling Area.
  
  
  
  Edit the Controlling Area:
  
  Locate the controlling area that is causing the error.
  Check the settings for the controlling area and ensure that a currency and valuation profile is assigned.
  
  
  
  Assign Currency and Valuation Profile:
  
  If not assigned, you can assign a currency and valuation profile by selecting the appropriate profile from the dropdown list.
  Make sure that the currency and valuation profile is correctly configured to meet your organization's requirements.
  
  
  
  Save Changes: After making the necessary changes, save your configuration.
  
  
  Test the Transaction: After saving, try to perform the transaction again to see if the error has been resolved.
  
  
  Related Information:
  
  Currency and Valuation Profile: This profile defines how currencies are managed in the controlling area, including the local currency and any additional currencies that may be used.
  Controlling Area: This is an organizational unit in SAP that represents a closed system for cost accounting. It can be used to manage costs and revenues.
  Transaction Codes: You may use transaction codes like OKKP (to maintain controlling area) or OB22 (to maintain currency and valuation profiles) for quicker access to the relevant settings.
  
  If the issue persists after following these steps, it may be necessary to consult with your SAP Basis or functional team to ensure that all configurations are correctly set up and that there are no underlying issues with the system.