How To Fix KQ294 - Maintain the cost elements for valuation with planned values

SAP Error Message - Details

• Message type: E = Error

• Message class: KQ - Error Messages for Customizing Product Costing

• Message number: 294

• Message text: Maintain the cost elements for valuation with planned values

What causes this issue?

You have specified in the results analysis version that planned values
are to be updated. However, the cost elements for the planned costs of
valuation and for the planned revenues of valuation are not maintained.

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?

If the results analysis version specifies that cost elements are to be
apportioned, maintain cost elements for the planned costs of valuation
and for the planned costs of revenues explicitly.
If the results analysis version does not specify that cost elements are
to be apportioned, maintain the technical results analysis cost
element. It may be necessary to enter the existing cost element again
and save it.

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 KQ294 - Maintain the cost elements for valuation with planned values ?

  The SAP error message KQ294, "Maintain the cost elements for valuation with planned values," typically occurs in the context of controlling and cost accounting within SAP. This error indicates that the system requires you to define cost elements for the valuation of planned costs, but these have not been set up correctly or are missing.
  Cause:
  
  Missing Cost Elements: The cost elements required for the valuation of planned costs are not maintained in the system.
  Configuration Issues: There may be a configuration issue in the controlling area or the cost element structure.
  Incorrect Settings: The settings for the cost element categories may not be properly defined for the planned values.
  
  Solution:
  To resolve the KQ294 error, follow these steps:
  
  
  Maintain Cost Elements:
  
  Go to the SAP Easy Access screen.
  Navigate to Controlling -> Cost Element Accounting -> Master Data -> Cost Elements -> Create or Change.
  Ensure that the necessary cost elements are created and properly configured for planned values.
  
  
  
  Check Cost Element Categories:
  
  Ensure that the cost element categories are correctly defined for the planned costs. You can check this in the configuration settings.
  Navigate to Controlling -> Cost Element Accounting -> Master Data -> Cost Elements -> Define Cost Element Categories.
  
  
  
  Review Configuration:
  
  Check the configuration for the controlling area to ensure that it is set up to allow for planned values.
  Go to Controlling -> General Settings -> Define Controlling Area and verify the settings.
  
  
  
  Use Transaction Codes:
  
  You can use transaction codes like KA01 (Create Cost Element) or KA02 (Change Cost Element) to manage cost elements directly.
  
  
  
  Consult Documentation:
  
  If you are unsure about the specific cost elements needed, consult your organization's documentation or SAP help resources for guidance on the required cost elements for your specific business processes.
  
  
  
  Related Information:
  
  Cost Element Accounting: This is a key component of SAP Controlling (CO) that deals with the management of costs and revenues.
  Planned Costs: These are estimates of future costs that are used for budgeting and forecasting.
  SAP Notes: Check SAP Notes for any specific patches or updates related to this error message, as there may be known issues or fixes provided by SAP.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a consultant who specializes in SAP Controlling for further assistance.