How To Fix FINS_REV_REC002 - Maintain a valuation rule for acc. principle &1 and RA key &2 if required

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 002

• Message text: Maintain a valuation rule for acc. principle &1 and RA key &2 if required

What causes this issue?

For the company code &v3& there is no valuation rule defined for the
quoted accounting principle and result analysis key.

System Response

When there is no valuation rule it is assumed that event based revenue
recognition is not requested in this case.

How to fix this error?

If event based revenue recognition is required for this accounting
principle you may contact your system administrator. If you would like
to avoid this error message you may create a no-valuation rule.

Procedure for System Administrators

For direct access of the customizing you may use the transaction SM34
for the view cluster FINS_TRR.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_REV_REC002 - Maintain a valuation rule for acc. principle &1 and RA key &2 if required ?

  The SAP error message FINS_REV_REC002 indicates that there is a missing valuation rule for a specific accounting principle and revenue recognition key. This error typically arises in the context of revenue recognition processes, particularly when using the Revenue Accounting and Reporting (RAR) module in SAP.
  Cause:
  The error occurs when:
  
  A valuation rule has not been defined for the specified accounting principle (indicated by &1) and revenue recognition key (indicated by &2).
  The system is trying to process a transaction that requires a valuation rule for revenue recognition, but it cannot find one.
  
  Solution:
  To resolve this error, you need to maintain a valuation rule for the specified accounting principle and revenue recognition key. Here are the steps to do this:
  
  
  Access the Customizing Transaction:
  
  Go to the SAP Easy Access screen.
  Enter the transaction code SPRO to access the SAP Reference IMG.
  
  
  
  Navigate to the Relevant Configuration:
  
  Follow the path: Financial Accounting (New) > Revenue Accounting and Reporting > Valuation > Define Valuation Rules.
  
  
  
  Create or Maintain Valuation Rules:
  
  In the valuation rules configuration, check if a valuation rule exists for the specified accounting principle and revenue recognition key.
  If it does not exist, create a new valuation rule by clicking on the "New Entries" button.
  Fill in the required fields, including the accounting principle and revenue recognition key, and define the necessary parameters for the valuation rule.
  
  
  
  Save Your Changes:
  
  After entering the necessary information, save your changes.
  
  
  
  Test the Configuration:
  
  After maintaining the valuation rule, test the transaction that previously generated the error to ensure that it now processes correctly.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  SPRO: Customizing Implementation Guide
  FBL1N, FBL3N, FBL5N: For displaying line items in accounts, which may help in troubleshooting.
  
  
  
  Documentation:
  
  Refer to SAP Help documentation for Revenue Accounting and Reporting for detailed information on valuation rules and their configuration.
  
  
  
  Support:
  
  If you continue to experience issues, consider reaching out to your SAP support team or consulting the SAP Community for additional assistance.
  
  
  
  By following these steps, you should be able to resolve the FINS_REV_REC002 error and ensure that your revenue recognition processes function correctly.