How To Fix G00505 - You can choose only 1 valuation allowance (allowing or disallowing loss)

G00505 - Overview

• Message type: E = Error

• Message class: G00 - SAP Consolidation

• Message number: 505

• Message text: You can choose only 1 valuation allowance (allowing or disallowing loss)

What causes this issue?

You specified both a valuation allowance that allows a loss and one
that disallows a loss. Only one of these types of valuation allowances
can be processed.

System Response

Processing terminated

How to fix this error?

Specify either valuation allowance with loss allowed or disallowed.

Error message extract from SAP system. Copyright SAP SE.

G00505 - Details

• The SAP error message G00505 indicates that there is a conflict in the valuation allowance settings for a particular financial transaction or asset. This error typically arises in the context of financial accounting and asset management, particularly when dealing with loss allowances for assets.
  
  Cause:
  The error occurs when the system detects that there are multiple valuation allowances set for a single asset or transaction, which is not permissible. In SAP, you can only choose one valuation allowance for a given asset or transaction, either allowing or disallowing the loss. This conflict can arise due to:
  
  
  Configuration Issues: Incorrect settings in the asset accounting configuration.
  Data Entry Errors: Multiple entries or conflicting settings in the asset master data.
  Transaction Processing: Attempting to process a transaction that conflicts with existing valuation allowances.
  
  
  Solution:
  To resolve the G00505 error, you can follow these steps:
  
  
  Check Asset Master Data:
  
  Go to the asset master record and review the valuation allowance settings.
  Ensure that