How To Fix IF116 - Currency and valuation type for object &1 does not exist

IF116 - Overview

• Message type: E = Error

• Message class: IF - Messages re interest accounting in PS/CO/IM

• Message number: 116

• Message text: Currency and valuation type for object &1 does not exist

What causes this issue?

The combination of currency type &V2& and valuation category &V3& does
not exist for object &V1&.

System Response

Interest update/cancelation stopped.

How to fix this error?

Maintain the combination of currency type &V2& and valuation category
&V3& in table tcval.

Error message extract from SAP system. Copyright SAP SE.

IF116 - Details

• The SAP error message IF116 ("Currency and valuation type for object &1 does not exist") typically occurs in the context of Asset Accounting (FI-AA) when the system is unable to find a valid currency and valuation type combination for a specific asset or object. This can happen during various transactions, such as asset postings, transfers, or when trying to display asset information.
  Causes:
  
  Missing Configuration: The currency and valuation type for the asset class or specific asset may not be configured in the system.
  Incorrect Asset Class: The asset class assigned to the asset may not have the necessary currency and valuation type settings.
  Data Inconsistency: There may be inconsistencies in the master data for the asset, such as missing or incorrect entries in the asset master record.
  Valuation Area Issues: The valuation area may not be properly defined or linked to the asset class.
  
  Solutions:
  
  
  Check Asset Class Configuration:
  
  Go to the configuration settings for Asset Accounting