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

MF306 - Overview

• 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.

MF306 - Details

• 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