How To Fix KD542 - Define settlement profile &

SAP Error Message - Details

• Message type: E = Error

• Message class: KD - CO Settlement

• Message number: 542

• Message text: Define settlement profile &

What causes this issue?

You have entered settlement profile &V1& as a parameter in the
settlement rule. The profile does not exist.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Create settlement profile &V1& or correct the parameters in the
settlement rule.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KD542 - Define settlement profile & ?

  The SAP error message KD542, which states "Define settlement profile," typically occurs in the context of controlling (CO) when you are trying to settle costs from internal orders, projects, or other cost objects. This error indicates that the system cannot find a defined settlement profile for the specified object.
  Cause:
  The primary cause of this error is that the settlement profile has not been defined or assigned to the relevant cost object (such as an internal order or project). The settlement profile is essential for determining how costs are settled to other cost objects, such as cost centers, profitability segments, or other internal orders.
  Solution:
  To resolve the KD542 error, you need to define and assign a settlement profile. Here are the steps to do this:
  
  
  Define Settlement Profile:
  
  Go to the SAP Easy Access screen.
  Navigate to the following path: Controlling (CO) -> Internal Orders -> Settlement -> Settlement Profile -> Define Settlement Profile.
  Create a new settlement profile or modify an existing one. Ensure that you specify the necessary parameters, such as the settlement type, the default receiver, and any other relevant settings.
  
  
  
  Assign Settlement Profile:
  
  After defining the settlement profile, you need to assign it to the relevant cost object.
  For internal orders, navigate to: Controlling (CO) -> Internal Orders -> Master Data -> Order -> Change.
  Enter the order number and go to the "Settlement" tab.
  Assign the newly created or modified settlement profile to the order.
  
  
  
  Check Authorizations:
  
  Ensure that you have the necessary authorizations to define and assign settlement profiles. If you do not have the required permissions, contact your SAP administrator.
  
  
  
  Test the Settlement:
  
  After defining and assigning the settlement profile, try to perform the settlement process again to see if the error persists.
  
  
  
  Related Information:
  
  Settlement Types: Understand the different types of settlements (e.g., to cost centers, to profitability segments) and how they affect your configuration.
  Documentation: Refer to SAP documentation or help files for detailed information on settlement profiles and their configuration.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as KO02 (Change Order), KO03 (Display Order), and KOB1 (Order Line Items) for managing internal orders and settlements.
  
  If the error persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any specific issues related to your version of SAP.