How To Fix FINS_REV_REC132 - Please assign to ledger &1, company code &2 a unique accounting principle

FINS_REV_REC132 - Overview

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 132

• Message text: Please assign to ledger &1, company code &2 a unique accounting principle

What causes this issue?

A unique accounting principle cannot be determined for the indicated
ledger and company code. The reason could be that no accounting
principle is assigned, or more than one accounting principle is
assigned.

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?

In the IMG activity <LS>Define Settings for Ledgers and Currency Types
</>, make sure that one and only one accounting principle is assigned to
the indicated ledger and company code.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FINS_REV_REC132 - Details

• The SAP error message FINS_REV_REC132 indicates that there is a configuration issue related to the assignment of accounting principles to a specific ledger and company code. This error typically arises in the context of revenue recognition and financial accounting, particularly when using the new revenue recognition standards (IFRS 15/ASC 606).
  
  Cause:
  The error occurs when:
  
  Duplicate Accounting Principles: The system finds that the combination of the specified ledger and company code has more than one accounting principle assigned to it, which is not allowed.
  Missing Configuration: The required configuration for the accounting principles in the system is incomplete or incorrect.
  Incorrect Assignment: The accounting principles assigned to the ledger and company code do not meet the unique requirement.
  
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (New) > Revenue Recognition > Define Accounting Principles.
  Verify the accounting principles assigned to the specific ledger and company