How To Fix FTR_GUI290 - Valuation area should not be empty for HIFO and LOFO

SAP Error Message - Details

• Message type: E = Error

• Message class: FTR_GUI - TR Transaction Management

• Message number: 290

• Message text: Valuation area should not be empty for HIFO and LOFO

What causes this issue?

In case of HIFO and LOFO consumption sequence procedure, valuation area
is mandatory. It should not be left empty.

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?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FTR_GUI290 - Valuation area should not be empty for HIFO and LOFO ?

  The SAP error message FTR_GUI290 indicates that the valuation area is not specified for the High In, First Out (HIFO) or Low In, First Out (LOFO) valuation methods in the context of financial transactions or asset management. This error typically arises when trying to process transactions related to financial instruments or asset valuations where these methods are applicable.
  Cause:
  
  Missing Valuation Area: The valuation area is a critical piece of information that defines how financial transactions are processed. If it is not specified, the system cannot determine how to value the assets or transactions.
  Configuration Issues: The valuation area may not be properly configured in the system settings, leading to the error when attempting to execute transactions that require it.
  Data Entry Errors: Users may inadvertently leave the valuation area field blank when entering transaction data.
  
  Solution:
  
  Check Transaction Data: Ensure that the valuation area is filled in correctly when entering transaction data. This can often be done in the relevant transaction screen where the error occurs.
  Configuration Settings: 
  
  Navigate to the configuration settings for financial instruments or asset management in SAP.
  Ensure that the valuation area is defined and properly configured for the relevant transaction types.
  You may need to consult with your SAP administrator or functional consultant to verify that the valuation area is set up correctly in the system.
  
  
  Review User Roles and Authorizations: Ensure that the user has the necessary permissions to access and modify the valuation area settings.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on the valuation area settings related to HIFO and LOFO methods.
  
  Related Information:
  
  Valuation Methods: HIFO and LOFO are methods used to determine the cost basis of assets for accounting purposes. Understanding how these methods work can help in configuring the valuation area correctly.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  Transaction Codes: Familiarize yourself with transaction codes related to financial instruments and asset management, such as:
  
  FTR_EDIT: For editing financial transactions.
  FTR_CREATE: For creating new financial transactions.
  
  
  User Training: Ensure that users are trained on the importance of entering all required fields, including the valuation area, to avoid similar errors in the future.
  
  If the issue persists after checking these areas, it may be beneficial to engage with SAP support or a consultant who specializes in financial transactions within SAP.