How To Fix FINS_REV_REC062 - Revenue recognition method '&1' of RA key &3 cannot be applied to &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 062

• Message text: Revenue recognition method '&1' of RA key &3 cannot be applied to &2

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 method of Event Based Revenue Recognition does not support
the quoted object.

How to fix this error?

You may
check whether the correct results analysis key is assigned to the object
for which event based revenue recognition is processed<(>,<)>
or contact your system administrator.

Procedure for System Administrators

The system administrator may check and correct the customizing of event
based revenue recognition for the quoted parameter set.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_REV_REC062 - Revenue recognition method '&1' of RA key &3 cannot be applied to &2 ?

  The SAP error message FINS_REV_REC062 indicates that there is an issue with the revenue recognition method being used for a specific Revenue Accounting (RA) key. The message typically means that the revenue recognition method specified cannot be applied to the particular transaction or document identified by the RA key.
  Cause:
  
  Incompatible Revenue Recognition Method: The revenue recognition method defined for the RA key is not compatible with the type of transaction or the characteristics of the document.
  Configuration Issues: There may be configuration settings in the revenue recognition method that do not align with the requirements of the transaction.
  Missing or Incorrect Data: The data associated with the RA key may be incomplete or incorrect, leading to the inability to apply the specified revenue recognition method.
  Document Type Restrictions: Certain document types may have restrictions on which revenue recognition methods can be applied.
  
  Solution:
  
  Check Configuration: Review the configuration settings for the revenue recognition method in the SAP system. Ensure that the method is correctly set up and is compatible with the type of transaction you are processing.
  Review RA Key Settings: Look into the specific RA key mentioned in the error message. Verify that the revenue recognition method assigned to it is appropriate for the transaction.
  Adjust Revenue Recognition Method: If the current method is not suitable, consider changing it to a different method that is compatible with the transaction.
  Validate Data: Ensure that all necessary data related to the RA key is complete and accurate. This includes checking for any missing fields or incorrect entries.
  Consult Documentation: Refer to SAP documentation or help resources for guidance on the specific revenue recognition methods and their applicability.
  Seek Help from SAP Support: If the issue persists, consider reaching out to SAP support for assistance, especially if it involves complex configurations or customizations.
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like OBY6 (for configuration settings) or FBL1N (to view line items) to investigate further.
  SAP Notes: Check for any relevant SAP Notes that might address known issues or provide additional guidance on this error message.
  User Forums: Engage with SAP community forums or user groups where similar issues may have been discussed, and solutions shared.
  
  By following these steps, you should be able to identify the root cause of the error and implement a suitable solution.