How To Fix KE0C056 - Currency and valuation profile &1 is not active in controlling area &2

SAP Error Message - Details

• Message type: E = Error

• Message class: KE0C - CO-PA: Customizing checks

• Message number: 056

• Message text: Currency and valuation profile &1 is not active in controlling area &2

What causes this issue?

In the controlling area &V2&, the currency and valuation profile &V1&
is not activated.

System Response

Profit center valuation can only be activated in CO-PA once the
parallel valuation for the controlling area has already been activated.

How to fix this error?

Activate the currency and valuation profile in controlling area &V2&.
You can find how to activate currency and valuation profiles in IMG
under "Controlling -> General Controlling -> Multiple Valuation
Approaches/Transfer Prices ->
<DS:SIMG.SIMG_ORK38KEP>Activate Parallel Valuation Methods"</>

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KE0C056 - Currency and valuation profile &1 is not active in controlling area &2 ?

  The SAP error message KE0C056 indicates that the currency and valuation profile specified is not active in the controlling area you are working with. This error typically arises when you are trying to perform a transaction or report that requires a specific currency and valuation profile, but that profile has not been activated for the controlling area in question.
  Cause:
  
  Inactive Currency and Valuation Profile: The currency and valuation profile you are trying to use is not activated for the specified controlling area.
  Configuration Issues: There may be a misconfiguration in the controlling area settings or the currency and valuation profiles.
  Profile Assignment: The profile may not be assigned to the controlling area correctly.
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check the Currency and Valuation Profile:
  
  Go to the SAP transaction code OKKP (Controlling Area: Settings).
  Select the controlling area that is causing the issue.
  Check the assigned currency and valuation profile.
  
  
  
  Activate the Profile:
  
  If the profile is not active, you will need to activate it. This can usually be done in the same configuration area where you checked the profile assignment.
  Ensure that the profile is correctly assigned to the controlling area.
  
  
  
  Review Configuration:
  
  If you have the necessary authorizations, review the configuration settings for the controlling area and the currency and valuation profiles.
  Make sure that all required settings are correctly configured.
  
  
  
  Consult Documentation:
  
  If you are unsure about the correct profiles or settings, refer to SAP documentation or consult with your SAP Basis or Controlling module expert.
  
  
  
  Testing:
  
  After making changes, perform a test transaction to ensure that the error has been resolved.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OKKP: Controlling Area: Settings
  OB08: Exchange Rate Types
  OKB9: Define Valuation Profiles
  
  
  SAP Notes: Check for any relevant SAP Notes that may provide additional guidance or fixes related to this error.
  User Authorizations: Ensure that you have the necessary authorizations to make changes to the controlling area settings.
  
  By following these steps, you should be able to resolve the KE0C056 error and ensure that the currency and valuation profile is correctly set up for your controlling area.