How To Fix K5047 - Valuation &1 is not defined in controlling area &2

SAP Error Message - Details

• Message type: E = Error

• Message class: K5 - CO Reconciliation Ledger

• Message number: 047

• Message text: Valuation &1 is not defined in controlling area &2

What causes this issue?

You want to
Select data from controlling area &V2& and
Display the corresponding amounts in valuation &V1&.

System Response

This function is not possible, as a currency- and valuation profile is
assigned to controlling area &V2&, in which the valuation &V1& is not
defined.

How to fix this error?

Choose a valuation that is defined in controlling area &V2&.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message K5047 - Valuation &1 is not defined in controlling area &2 ?

  The SAP error message K5047, which states "Valuation &1 is not defined in controlling area &2," typically occurs in the context of controlling (CO) and profitability analysis (CO-PA) when you are trying to perform a transaction that requires a specific valuation method that has not been defined for the specified controlling area.
  Cause:
  
  Missing Valuation Definition: The valuation method (indicated by &1) has not been set up in the controlling area (indicated by &2). This can happen if the configuration for the controlling area is incomplete or if the valuation method is not relevant for the specific controlling area.
  Incorrect Configuration: The controlling area may not be properly configured to use the required valuation method, or the valuation method may not be activated for the controlling area.
  Data Entry Error: There may be a mistake in the data entry where the wrong valuation method or controlling area is being referenced.
  
  Solution:
  
  
  Check Valuation Method Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Controlling > Profitability Analysis > Account-Based or Costing-Based > Define Valuation Methods.
  Ensure that the valuation method you are trying to use is defined for the controlling area in question.
  
  
  
  Define Valuation Method for Controlling Area:
  
  If the valuation method is not defined, you will need to create it. This involves specifying the necessary parameters and ensuring it aligns with your business processes.
  
  
  
  Review Controlling Area Settings:
  
  Check the settings for the controlling area to ensure that it is correctly configured to use the required valuation methods.
  Ensure that the controlling area is active and properly linked to the relevant company codes.
  
  
  
  Data Entry Verification:
  
  Double-check the transaction or report you are running to ensure that the correct valuation method and controlling area are being referenced.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for any specific configurations or requirements related to your organization's setup.
  
  
  
  Related Information:
  
  Transaction Codes: You may use transaction codes like OKB9 (for defining valuation methods) or OKKP (for controlling area settings) to access the relevant configuration screens.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on configuration.
  User Roles and Authorizations: Ensure that you have the necessary authorizations to view and modify the controlling area and valuation method settings.
  
  By following these steps, you should be able to resolve the K5047 error and ensure that the necessary valuation methods are properly defined and configured in your SAP system.