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

FINS_REV_REC002 - Overview

• 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.

FINS_REV_REC002 - Details

• 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