How To Fix FML_PRICE_MANAGER004 - Price Type for Inventory Price is not configured

SAP Error Message - Details

• Message type: E = Error

• Message class: FML_PRICE_MANAGER - Price Manager related Messages

• Message number: 004

• Message text: Price Type for Inventory Price is not configured

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 FML_PRICE_MANAGER004 - Price Type for Inventory Price is not configured ?

  The SAP error message FML_PRICE_MANAGER004 indicates that the system is unable to find a configuration for the price type related to inventory pricing. This typically occurs in the context of financial management and inventory valuation processes within SAP.
  Cause:
  The error is usually caused by one of the following reasons:
  
  Missing Configuration: The price type for inventory pricing has not been defined in the system.
  Incorrect Settings: The existing configuration may be incorrect or incomplete.
  Master Data Issues: The relevant master data (such as material master or valuation class) may not be set up correctly to reference the appropriate price type.
  System Upgrade or Changes: Changes in system settings or upgrades may have led to the loss of configuration.
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the configuration settings in SAP (Transaction code: SPRO).
  Navigate to Financial Accounting (New) > Financial Accounting Global Settings (New) > Valuation and Assignment > Define Price Types.
  Ensure that the price type for inventory pricing is defined and correctly configured.
  
  
  
  Define Price Type:
  
  If the price type is missing, you will need to create it. Make sure to define the necessary attributes and link it to the appropriate valuation methods.
  
  
  
  Review Master Data:
  
  Check the material master records (Transaction code: MM03) to ensure that the valuation class and price type are correctly assigned.
  Ensure that the relevant materials are set up to use the correct price type.
  
  
  
  Check for Updates:
  
  If the issue arose after a system upgrade or configuration change, review the changes made during that time. It may be necessary to reapply or adjust configurations.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on configuring price types and inventory pricing.
  
  
  
  Testing:
  
  After making the necessary changes, perform tests to ensure that the error no longer occurs and that inventory pricing functions as expected.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as SPRO (for configuration), MM03 (for material master), and others that may be pertinent to your specific SAP environment.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles: Ensure that you have the necessary authorizations to make changes to configuration settings.
  
  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 Financial Management.