How To Fix FINS_REV_REC_CUST031 - Enter an accounting principle

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_REV_REC_CUST - Event-Based Rev. Rec.: Customizing

• Message number: 031

• Message text: Enter an accounting principle

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_REV_REC_CUST031 - Enter an accounting principle ?

  The SAP error message FINS_REV_REC_CUST031 typically occurs in the context of revenue recognition and indicates that an accounting principle must be specified for the transaction you are trying to process. This error is often encountered in the SAP S/4HANA environment, particularly when dealing with revenue recognition scenarios.
  Cause:
  The error arises when:
  
  Missing Accounting Principle: The system requires an accounting principle to be defined for the revenue recognition process, but it has not been provided in the transaction.
  Configuration Issues: The accounting principles may not be properly configured in the system, or the relevant settings for revenue recognition are incomplete.
  Transaction Type: The transaction type being processed may require a specific accounting principle that has not been set up.
  
  Solution:
  To resolve the error, you can take the following steps:
  
  
  Check Transaction Data:
  
  Ensure that the transaction you are processing includes a valid accounting principle. This may involve reviewing the document or entry you are trying to post.
  
  
  
  Define Accounting Principles:
  
  Navigate to the configuration settings in SAP to define the necessary accounting principles. This can typically be done in the following path:
  
  SPRO ? Financial Accounting ? Revenue Recognition ? Define Accounting Principles.
  
  
  Make sure that the accounting principles relevant to your business processes are set up correctly.
  
  
  
  Assign Accounting Principles:
  
  Ensure that the accounting principles are assigned to the relevant company codes or business areas as needed.
  
  
  
  Review Customizing Settings:
  
  Check if there are any specific customizing settings that need to be adjusted for the revenue recognition process. This may include settings related to the revenue recognition method or the integration with other modules.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to revenue recognition and accounting principles for any additional guidance or updates.
  
  
  
  Testing:
  
  After making the necessary changes, test the transaction again to ensure that the error has been resolved.
  
  
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  SAP Community: Engage with the SAP Community forums to see if other users have encountered similar issues and what solutions they have found.
  Training and Documentation: Consider reviewing training materials or documentation related to revenue recognition in SAP to better understand the requirements and configurations.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a consultant who specializes in SAP Financials for further assistance.