How To Fix FINS_ACDOC_CUST358 - Parallel valuation of COGM: Version &1 is not defined in company code &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_ACDOC_CUST - Unified Journal Entry - Customizing

• Message number: 358

• Message text: Parallel valuation of COGM: Version &1 is not defined in company code &2

What causes this issue?

In the Customizing settings for <DS:SIMG.FCML_MLCO_DC>Parallel Valuation
of Cost of Goods Manufactured</> there is no entry company code &V2& and
for the accounting principle which corresponds to CO version &V1&.

System Response

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

How to fix this error?

Start transaction <DS:TRAN.FINS_CUST_CONS_CHK>FINS_CUST_CONS_CHK</> to
check the consistency of your ledger customizing.
If this transaction does not display errors, then please contact SAP:
The root cause for this error message is then likely caused by a progam
error.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_ACDOC_CUST358 - Parallel valuation of COGM: Version &1 is not defined in company code &2 ?

  The SAP error message FINS_ACDOC_CUST358 indicates that there is an issue with the configuration of parallel valuation for Cost of Goods Manufactured (COGM) in the context of a specific company code. This error typically arises when the system is trying to process a transaction that involves parallel valuation, but the required version for that valuation is not defined in the specified company code.
  Cause:
  
  Missing Configuration: The version for parallel valuation (e.g., for IFRS, local GAAP) is not defined in the company code settings.
  Incorrect Version Assignment: The version that is being referenced in the transaction is not correctly assigned or does not exist in the configuration.
  Company Code Settings: The company code may not have been set up to handle the specific valuation method or version required for the transaction.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the SAP Easy Access screen and navigate to the following path:
  SPRO -> Financial Accounting (New) -> General Ledger Accounting (New) -> Valuation -> Define Parallel Valuation
  
  Ensure that the version specified in the error message is defined for the relevant company code.
  
  
  
  Define Version:
  
  If the version is not defined, you will need to create it. You can do this by selecting the appropriate company code and defining the necessary valuation version.
  
  
  
  Assign Version to Company Code:
  
  Make sure that the version is correctly assigned to the company code in the configuration settings. This can usually be done in the same area where you define parallel valuation.
  
  
  
  Check Transaction Data:
  
  Review the transaction data that triggered the error to ensure that it is using the correct version and that all necessary data is present.
  
  
  
  Consult Documentation:
  
  If you are unsure about the specific settings or how to configure them, refer to the SAP documentation or consult with your SAP functional consultant.
  
  
  
  Related Information:
  
  Parallel Valuation: This refers to the ability to maintain multiple valuations for the same financial transactions, which is often required for compliance with different accounting standards (e.g., IFRS vs. local GAAP).
  Company Code: This is a legal entity in SAP that represents an independent accounting unit. Each company code can have its own set of financial statements.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OBY6 (for company code settings) and OBY1 (for defining the fiscal year variant).
  
  By following these steps, you should be able to resolve the error and ensure that your SAP system is correctly configured for parallel valuation of COGM.