How To Fix FMFG024 - Invalid closing rule for fund status &1 and &2/&3/&4

FMFG024 - Overview

• Message type: E = Error

• Message class: FMFG - U.S. Federal Government Message Class

• Message number: 024

• Message text: Invalid closing rule for fund status &1 and &2/&3/&4

What causes this issue?

The closing rule for fund status &V1& and &V2&&V3&&V4& is invalid.

System Response

The system could not create FI document for the record involving fund
status &V1& and &V2&&V3&&V4&.

How to fix this error?

Verify in Customizing that the rule for closing residual ledger accounts
is correct. Then run this program again.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FMFG024 - Invalid closing rule for fund status &1 and &2/&3/&4 ?

  The SAP error message FMFG024 "Invalid closing rule for fund status &1 and &2/&3/&4" typically occurs in the context of Funds Management (FM) when there is an issue with the closing rules defined for a specific fund status. This error can arise during the execution of processes such as budget closing or fund management activities.
  
  Cause:
  
  Invalid Fund Status: The fund status specified in the error message may not have a valid closing rule assigned to it.
  
  Configuration Issues: There may be a misconfiguration in the Funds Management settings, particularly in the closing rules for the fund statuses.
  Inconsistent Data: The data related to the fund status may be inconsistent or incomplete, leading to the inability to apply the closing rules.
  Authorization Issues: Sometimes, the user may not have the necessary authorizations to perform actions related to the specified fund status.
  
  
  Solution:
  
  
  Check Fund Status Configuration:
  
  Go to the configuration settings for Funds Management in SAP (transaction code