How To Fix MF306 - Standard price has not been maintained in the material master

SAP Error Message - Details

• Message type: E = Error

• Message class: MF - MPS planning and evaluation

• Message number: 306

• Message text: Standard price has not been maintained in the material master

What causes this issue?

The standard price has not been maintained in the accounting screen of
the material master.

How to fix this error?

Enter the standard price in the <DS:TRAN.MM02>Accounting</> screen of
the material master.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message MF306 - Standard price has not been maintained in the material master ?

  The SAP error message MF306 indicates that a standard price has not been maintained for a material in the material master record. This error typically occurs when you attempt to perform a transaction that requires a standard price, such as a goods movement or inventory valuation, but the system cannot find a valid standard price for the specified material.
  Cause:
  
  Missing Standard Price: The most common cause is that the standard price has not been set for the material in the material master.
  Incorrect Material Type: The material type may not support standard pricing.
  Incorrect Valuation Class: The valuation class assigned to the material may not be configured correctly.
  Material Status: The material may be blocked or inactive, preventing the system from using its pricing information.
  
  Solution:
  To resolve the MF306 error, follow these steps:
  
  
  Check Material Master Record:
  
  Go to transaction code MM03 (Display Material) and enter the material number.
  Navigate to the Accounting view and check if the standard price is maintained.
  
  
  
  Maintain Standard Price:
  
  If the standard price is missing, you can maintain it using transaction code MM02 (Change Material).
  Select the Accounting view and enter the standard price in the appropriate field.
  Save the changes.
  
  
  
  Check Material Type and Valuation Class:
  
  Ensure that the material type allows for standard pricing.
  Verify that the valuation class is correctly set up in the configuration.
  
  
  
  Check Material Status:
  
  Ensure that the material is not blocked or inactive. You can check this in the material master record.
  
  
  
  Re-evaluate the Material:
  
  If the material has been recently created or changed, you may need to re-evaluate it using transaction code MR21 (Change Price).
  
  
  
  Consult with SAP Support:
  
  If the issue persists after checking the above points, consider consulting with your SAP support team or checking SAP Notes for any related issues.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  MM01: Create Material
  MM02: Change Material
  MM03: Display Material
  MR21: Change Price
  
  
  Material Master Views: Ensure that the Accounting view is properly maintained.
  SAP Notes: Check for any relevant SAP Notes that may provide additional insights or solutions for this error.
  
  By following these steps, you should be able to resolve the MF306 error and maintain the necessary standard price for the material in question.