How To Fix FINS_REV_REC004 - Revenue recognition for ref. doc. &3 (proc. &1, org. &2) in &4 failed

FINS_REV_REC004 - Overview

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 004

• Message text: Revenue recognition for ref. doc. &3 (proc. &1, org. &2) in &4 failed

What causes this issue?

An error occurred during revenue recognition calculation during
real-time processing of the indicated reference document. The journal
entry for the reference document is created, but not the subsequent
revenue recognition document. Instead, an entry is added to the log.
This entry enables the revenue recognition part to be carried out at a
later time.

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?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FINS_REV_REC004 - Details

• The SAP error message FINS_REV_REC004 indicates that there was a failure in the revenue recognition process for a specific reference document. This error typically occurs in the context of the Revenue Recognition functionality within SAP, which is part of the Financial Accounting (FI) module and is often used in conjunction with the Controlling (CO) module.
  
  Cause:
  The error can be caused by several factors, including but not limited to:
  
  Missing Configuration: The revenue recognition process may not be properly configured for the specific document type or business area.
  Data Issues: There may be missing or incorrect data in the reference document, such as missing revenue recognition keys or incorrect account assignments.
  Posting Period Issues: The posting period may be closed, preventing any further postings related to revenue recognition.
  Document Status: The reference document may be in a status that does not allow for revenue recognition (e.g., it may be incomplete or in a draft state).
  Authorization Issues: