How To Fix FVKM001 - No update types are maintained for the corporate actions

FVKM001 - Overview

• Message type: E = Error

• Message class: FVKM - Message Class for Corporate Actions

• Message number: 001

• Message text: No update types are maintained for the corporate actions

What causes this issue?

No update types were assigned to the corporate actions.

System Response

The corporate action cannot be posted.

How to fix this error?

In the Customizing settings for securities, assign update types to the
corporate actions. To do so, choose <LS>Position Management ->
Corporate Actions -> Update Types -> <DS:SIMG.TKMV_FT_ASSGN>Assign
Update Types to the Corporate Action Categories</></>.

Error message extract from SAP system. Copyright SAP SE.

FVKM001 - Details

• The SAP error message FVKM001 ("No update types are maintained for the corporate actions") typically occurs in the context of financial accounting and asset management when the system is unable to process corporate actions due to missing configuration settings. Here’s a breakdown of the cause, potential solutions, and related information:
  
  Cause:
  
  Missing Configuration: The error indicates that there are no update types defined for the corporate actions in the system. Update types are necessary for the system to know how to handle different types of corporate actions (e.g., stock splits, dividends, mergers).
  Incorrect Settings: The settings for corporate actions may not have been properly maintained in the system, leading to this error when trying to process transactions related to corporate actions.
  
  
  Solution:
  To resolve the FVKM001 error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the SAP Customizing Implementation Guide (IMG) by using transaction code SPRO.
  Navigate to Financial Accounting (New) > Asset Accounting > Corporate Actions