How To Fix KM358 - This activity is only possible if Joint-Venture accounting is activated

SAP Error Message - Details

• Message type: E = Error

• Message class: KM - Error messages for Profit Center Accounting

• Message number: 358

• Message text: This activity is only possible if Joint-Venture accounting is activated

What causes this issue?

You are trying to store joint venture data in the system. However,
Joint Venture Accounting has not been activated.

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?

Either refrain from using joint venture data or activate Joint Venture
Accounting.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM358 - This activity is only possible if Joint-Venture accounting is activated ?

  The SAP error message KM358, which states "This activity is only possible if Joint-Venture accounting is activated," typically occurs in the context of SAP's Joint Venture Accounting (JVA) module. This error indicates that the system is trying to perform an operation that requires Joint Venture Accounting to be enabled, but it is not currently activated in the system.
  Cause:
  
  Joint Venture Accounting Not Activated: The most common cause of this error is that the Joint Venture Accounting functionality has not been activated in the system configuration.
  Incorrect Configuration: There may be a misconfiguration in the settings related to Joint Venture Accounting.
  Transaction Type: The transaction you are trying to execute may specifically require Joint Venture Accounting to be enabled.
  
  Solution:
  
  
  Activate Joint Venture Accounting:
  
  Go to the SAP Customizing Implementation Guide (IMG).
  Navigate to Financial Accounting (New) > Joint Venture Accounting > Basic Settings.
  Ensure that Joint Venture Accounting is activated for the relevant company code or controlling area.
  
  
  
  Check Configuration:
  
  Verify that all necessary settings related to Joint Venture Accounting are correctly configured.
  Ensure that the relevant master data (like joint venture partners, joint venture projects, etc.) is set up properly.
  
  
  
  User Authorization:
  
  Ensure that the user executing the transaction has the necessary authorizations to access Joint Venture Accounting functionalities.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to Joint Venture Accounting for any additional configuration steps or prerequisites that may be required.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  Joint Venture Accounting: This is a specialized accounting method used in industries such as oil and gas, where multiple parties share the costs and revenues of a project. It allows for the tracking of expenses and revenues associated with joint ventures.
  Transaction Codes: Familiarize yourself with relevant transaction codes related to Joint Venture Accounting, such as JVA-related reports and configuration transactions.
  SAP Notes: Check for any SAP Notes that may address specific issues or bugs related to Joint Venture Accounting.
  
  By following these steps, you should be able to resolve the KM358 error and successfully perform the desired activity in SAP.