How To Fix FINS_REV_REC118 - Please choose a well defined ledger, &1 does not suit

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 118

• Message text: Please choose a well defined ledger, &1 does not suit

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_REV_REC118 - Please choose a well defined ledger, &1 does not suit ?

  The SAP error message FINS_REV_REC118 indicates that there is an issue with the ledger selection in the context of revenue recognition. Specifically, the message states: "Please choose a well-defined ledger, &1 does not suit." This typically occurs when the system is unable to find a suitable ledger for the revenue recognition process based on the configuration or the data provided.
  Cause:
  
  Incorrect Ledger Configuration: The ledger specified in the transaction may not be configured correctly for revenue recognition.
  Missing Ledger Assignment: The ledger may not be assigned to the relevant company code or accounting principles.
  Incompatible Ledger Type: The ledger being used may not be compatible with the revenue recognition process (e.g., it may not be a leading ledger).
  Data Entry Errors: There may be errors in the data entry where an incorrect ledger is selected.
  
  Solution:
  
  
  Check Ledger Configuration:
  
  Go to the configuration settings in SAP and verify that the ledger is correctly defined for revenue recognition.
  Ensure that the ledger is set up as a leading ledger if required.
  
  
  
  Verify Company Code Assignment:
  
  Ensure that the ledger is assigned to the correct company code in the configuration settings.
  Check the settings in the Financial Accounting (FI) module to confirm that the ledger is active for the relevant company code.
  
  
  
  Review Revenue Recognition Settings:
  
  Check the settings for revenue recognition in the system to ensure that the correct ledgers are being used.
  Make sure that the revenue recognition process is configured to use the appropriate ledger.
  
  
  
  Correct Data Entry:
  
  If the error is due to incorrect data entry, review the transaction and ensure that the correct ledger is selected.
  If necessary, re-enter the transaction with the correct ledger.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on configuring ledgers for revenue recognition.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like OB22 (for ledger configuration) or OBY6 (for company code settings) to check and modify ledger settings.
  SAP Notes: Look for relevant SAP Notes that may address specific issues related to this error message.
  User Roles and Authorizations: Ensure that the user has the necessary authorizations to access and modify ledger settings.
  
  By following these steps, you should be able to identify and resolve the issue related to the FINS_REV_REC118 error message in SAP.