How To Fix IDCFM_US_FAMA_MSG033 - Wash sale update types are not defined for PMP &1

SAP Error Message - Details

• Message type: E = Error

• Message class: IDCFM_US_FAMA_MSG - Treasury US Localization

• Message number: 033

• Message text: Wash sale update types are not defined for PMP &1

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message IDCFM_US_FAMA_MSG033 - Wash sale update types are not defined for PMP &1 ?

  The SAP error message IDCFM_US_FAMA_MSG033, which states "Wash sale update types are not defined for PMP &1," typically occurs in the context of financial asset management, particularly when dealing with wash sales in the context of portfolio management (PMP).
  Cause:
  This error indicates that the system is unable to find the necessary configuration for wash sale update types for the specified portfolio management (PMP) context. This can happen due to:
  
  Missing Configuration: The wash sale update types have not been defined in the system for the specific PMP.
  Incorrect Settings: The settings for wash sales may be incorrectly configured or not aligned with the requirements of the financial instruments being processed.
  Data Issues: There may be issues with the data being processed that do not align with the expected formats or values.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Configuration:
  
  Navigate to the configuration settings for wash sales in your SAP system. This is typically found in the Financial Accounting (FI) or Asset Management (AM) modules.
  Ensure that the wash sale update types are defined for the relevant PMP. You may need to consult with your SAP administrator or a functional consultant to verify this.
  
  
  
  Define Update Types:
  
  If the update types are not defined, you will need to create them. This can usually be done in the customizing settings (transaction code SPRO) under the relevant financial management area.
  Look for the section related to wash sales and ensure that the necessary update types are created and properly configured.
  
  
  
  Review Documentation:
  
  Check SAP documentation or help resources for specific guidance on configuring wash sale update types. This can provide insights into the required fields and settings.
  
  
  
  Test the Configuration:
  
  After making changes, perform a test transaction to ensure that the error no longer occurs and that the wash sale processing works as expected.
  
  
  
  Consult SAP Support:
  
  If you are unable to resolve the issue through configuration changes, consider reaching out to SAP support for assistance. They may provide additional insights or patches if this is a known issue.
  
  
  
  Related Information:
  
  Wash Sale Definition: A wash sale occurs when a security is sold at a loss and then repurchased shortly thereafter. This can have tax implications and needs to be tracked accurately in financial systems.
  SAP Modules: This error is typically related to the Financial Accounting (FI) and Asset Management (AM) modules within SAP.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as SPRO (for configuration), and other related transaction codes for asset management and financial reporting.
  
  By following these steps, you should be able to identify and resolve the issue related to the wash sale update types in your SAP system.