How To Fix M3066 - Set the "LIFO-relevant" indicator or reset the LIFO pool

SAP Error Message - Details

• Message type: E = Error

• Message class: M3 - Material Master

• Message number: 066

• Message text: Set the "LIFO-relevant" indicator or reset the LIFO pool

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

What else can you do?

First, use our AnswerBot below to get a possible cause and solution (requires a premium subscription).

Also, review the in-depth Common Questions & Answers listed below; you could discover a solution there or be able to connect with others who have faced similar challenges.

You can also try searching the SAP support portal (support.sap.com) but you need a special user ID to access it. It is possible that an SAP support note exists that provides additional details about the mistake or even steps for fixing it.

Smart SAP Assistant

• What is the cause and solution for SAP error message M3066 - Set the "LIFO-relevant" indicator or reset the LIFO pool ?

  The SAP error message M3066, which states "Set the 'LIFO-relevant' indicator or reset the LIFO pool," typically occurs in the context of inventory management and valuation methods, particularly when dealing with LIFO (Last In, First Out) inventory valuation.
  Cause:
  This error usually arises when you are trying to perform a transaction that involves inventory management, such as goods movements or stock transfers, and the system detects that the LIFO pool is not properly configured. Specifically, it indicates that the system expects a LIFO-relevant indicator to be set for the material in question, but it is either not set or the LIFO pool is not correctly defined.
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Material Master Data:
  
  Go to the material master record for the affected material (transaction code MM03).
  Check the accounting view and ensure that the "LIFO-relevant" indicator is set correctly. This indicator should be activated if you are using LIFO as your inventory valuation method.
  
  
  
  Set the LIFO Indicator:
  
  If the LIFO-relevant indicator is not set, you can set it by editing the material master (transaction code MM02).
  Navigate to the accounting view and set the "LIFO-relevant" indicator.
  
  
  
  Reset the LIFO Pool:
  
  If the LIFO pool is not needed or if you want to reset it, you can do so by using the appropriate transaction (e.g., MB1A for goods issues or MB1B for transfer postings).
  Ensure that you follow the correct procedures for resetting the LIFO pool, as this may involve specific inventory adjustments.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to LIFO inventory management for additional guidance on how to configure and manage LIFO pools.
  
  
  
  Check for Customizations:
  
  If your organization has custom developments or enhancements related to inventory management, check with your SAP support team to ensure that there are no custom logic issues causing this error.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for further assistance, especially if this is a recurring issue.
  
  
  
  Related Information:
  
  LIFO Inventory Valuation: Understand how LIFO works in SAP and the implications of using this method for inventory valuation.
  Material Master Configuration: Familiarize yourself with the different views in the material master and how they affect inventory management.
  Transaction Codes: Common transaction codes related to inventory management include MM01 (Create Material), MM02 (Change Material), MM03 (Display Material), MB1A (Goods Withdrawal), and MB1B (Transfer Posting).
  
  By following these steps, you should be able to resolve the M3066 error and ensure that your inventory management processes run smoothly.