How To Fix FINS_REV_REC057 - Please customize &1 / &2 for company code &3 properly

FINS_REV_REC057 - Overview

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 057

• Message text: Please customize &1 / &2 for company code &3 properly

What causes this issue?

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

System Response

The quoted accounting principle / ledger is not properly customized for
the quoted company code.

How to fix this error?

You may
check whether the accounting principle / ledger for which the processing
is requested is properly chosen<(>,<)>
or contact your system administrator.

Procedure for System Administrators

The system administrator may check and correct the customizing.
If it is intended to allow the quoted accounting principle / ledger to
be used for a particular company code this can be customized in the
settings 'Define Settings for Ledgers and Currency Types'. There you
will find a suitable section.
It might also be the case, that the customizing of event based revenue
recognition is not available or incomplete.

Error message extract from SAP system. Copyright SAP SE.

FINS_REV_REC057 - Details

• The SAP error message FINS_REV_REC057 typically occurs in the context of revenue recognition and indicates that there is a configuration issue related to the revenue recognition settings for a specific company code. The message suggests that the system requires customization for the specified configuration elements (indicated by &1 and &2) for the given company code (&3).
  
  Cause:
  The error can arise due to several reasons, including:
  
  Missing Configuration: The necessary settings for revenue recognition are not properly configured for the specified company code.
  Incorrect Settings: The existing configuration may be incorrect or incomplete, leading to inconsistencies in how revenue recognition is processed.
  Company Code Specific Settings: The settings for the company code in question may not align with the requirements of the revenue recognition process.
  
  
  Solution:
  To resolve the error, you should follow these steps:
  
  
  Access Customizing Settings:
  
  Go to the SAP Easy Access screen and navigate to the customizing settings for revenue recognition. This is typically found under:
  SPRO