How To Fix KV031 - No target cost versions exist in controlling area &

SAP Error Message - Details

• Message type: E = Error

• Message class: KV - Variance Analysis for Cost Centers and Cost Objects

• Message number: 031

• Message text: No target cost versions exist in controlling area &

What causes this issue?

<DS:GLOS.variance_calculation>Variance calculation</> is controlled by
a <DS:GLOS.target_cost_version>target cost version</> and a
<DS:GLOS.variance_key>variance key</>.

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 the target cost versions.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KV031 - No target cost versions exist in controlling area & ?

  The SAP error message KV031 ("No target cost versions exist in controlling area") typically occurs in the context of controlling (CO) when you are trying to perform an operation that requires a target cost version, but none is defined for the specified controlling area.
  Cause:
  
  No Target Cost Version Defined: The primary cause of this error is that there are no target cost versions set up in the controlling area you are working with.
  Incorrect Configuration: The configuration for controlling areas may not be complete or may have been altered, leading to the absence of target cost versions.
  Authorization Issues: Sometimes, the user may not have the necessary authorizations to view or create target cost versions.
  
  Solution:
  To resolve the KV031 error, you can follow these steps:
  
  
  Check Target Cost Versions:
  
  Go to the transaction code OKT2 (Maintain Target Cost Versions).
  Check if there are any target cost versions defined for the controlling area in question.
  If none exist, you will need to create a new target cost version.
  
  
  
  Create a Target Cost Version:
  
  In the same transaction (OKT2), you can create a new target cost version by entering the controlling area and defining the necessary parameters.
  Ensure that you set the version as active if required.
  
  
  
  Review Configuration:
  
  Ensure that the controlling area is properly configured and that all necessary settings are in place.
  Check if the controlling area is assigned to the correct company code and that all related settings are correct.
  
  
  
  Authorization Check:
  
  Verify that the user has the necessary authorizations to access and modify target cost versions.
  If needed, consult with your SAP security team to ensure proper roles and permissions are assigned.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to controlling area configuration and target cost versions for additional guidance.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OKT2: Maintain Target Cost Versions
  OKT1: Define Target Cost Version
  
  
  Controlling Area: A controlling area is an organizational unit in SAP that represents a closed system used for cost accounting.
  Target Costing: This is a pricing strategy in which a company determines the desired profit margin and then works backward to determine the maximum allowable cost for a product.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any specific patches or updates related to this error.