How To Fix FTVV_MESSAGES588 - Reference to a charge type is required for mark-ups/discounts

SAP Error Message - Details

• Message type: E = Error

• Message class: FTVV_MESSAGES - Reporting Financial Assets Management

• Message number: 588

• Message text: Reference to a charge type is required for mark-ups/discounts

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FTVV_MESSAGES588 - Reference to a charge type is required for mark-ups/discounts ?

  The SAP error message FTVV_MESSAGES588, which states "Reference to a charge type is required for mark-ups/discounts," typically occurs in the context of pricing and billing processes within SAP, particularly when dealing with mark-ups or discounts in financial transactions.
  Cause:
  This error usually arises when:
  
  Missing Charge Type: A charge type (which defines how a discount or markup is applied) is not specified in the relevant configuration or transaction.
  Configuration Issues: The pricing procedure may not be correctly set up to handle mark-ups or discounts, leading to the absence of a required reference.
  Incomplete Master Data: The master data for the relevant customer, vendor, or material may not include the necessary charge type information.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Pricing Procedure:
  
  Go to the pricing procedure configuration in SAP (Transaction code: SPRO).
  Ensure that the pricing procedure used for the transaction includes the necessary condition types for mark-ups and discounts.
  
  
  
  Define Charge Types:
  
  Navigate to the configuration for charge types (Transaction code: SPRO > Financial Accounting > Accounts Receivable and Accounts Payable > Business Transactions > Define Charge Types).
  Ensure that the charge types for discounts and mark-ups are defined and properly configured.
  
  
  
  Update Master Data:
  
  Check the master data for the relevant customer or vendor to ensure that the charge type is specified.
  You can do this by accessing the customer or vendor master record (Transaction codes: XD02 for customers, XK02 for vendors) and verifying the relevant fields.
  
  
  
  Review Transaction Data:
  
  If the error occurs during a specific transaction, review the transaction data to ensure that all required fields, including charge types, are filled out correctly.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on the pricing procedure and charge types relevant to your version of SAP.
  
  
  
  Testing:
  
  After making the necessary changes, test the transaction again to ensure that the error is resolved.
  
  
  
  Related Information:
  
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as SPRO (Customizing), VK11 (Create Condition), and VK12 (Change Condition) for managing pricing conditions.
  User Roles: Ensure that you have the necessary authorizations to make changes in the configuration or master data.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in the relevant area of SAP.