How To Fix PFM_1370 - Correct the posting key. A revenue account must be specified

SAP Error Message - Details

• Message type: E = Error

• Message class: PFM_1 - Message class for POCLIS

• Message number: 370

• Message text: Correct the posting key. A revenue account must be specified

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message PFM_1370 - Correct the posting key. A revenue account must be specified ?

  The SAP error message PFM_1370, which states "Correct the posting key. A revenue account must be specified," typically occurs in the context of financial postings, particularly when dealing with revenue accounts in the SAP system. This error indicates that the system expects a revenue account to be specified for the transaction you are trying to process, but it has not been provided or is incorrect.
  Cause:
  
  Incorrect Posting Key: The posting key used in the transaction does not correspond to a revenue account. Posting keys determine the type of transaction (debit or credit) and the type of account (e.g., asset, liability, revenue).
  Missing Account Assignment: The account assignment for the transaction may be missing or incorrectly configured, leading to the system not recognizing it as a revenue account.
  Configuration Issues: There may be issues with the configuration of the chart of accounts or the posting keys in the SAP system.
  Transaction Type: The transaction type being processed may not be appropriate for the account type being used.
  
  Solution:
  
  Check Posting Key: Verify that the posting key you are using is appropriate for revenue accounts. Common posting keys for revenue include 40 (credit) and 50 (debit) for revenue accounts.
  Specify Revenue Account: Ensure that you have specified a valid revenue account in the transaction. This account should be set up in the chart of accounts and should be active.
  Review Account Assignment: Check the account assignment details in the transaction to ensure that all required fields are filled out correctly.
  Consult Configuration: If you have access, review the configuration settings for posting keys and account types in the SAP system. This may require assistance from a system administrator or SAP consultant.
  Test with Different Data: If possible, try to replicate the issue with different data or a different transaction to see if the problem persists.
  
  Related Information:
  
  SAP Documentation: Refer to SAP's official documentation for detailed information on posting keys and account types.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FB50 (G/L Account Document Entry) or F-02 (General Posting) to understand how to enter transactions correctly.
  User Roles and Permissions: Ensure that you have the necessary permissions to post to the accounts in question, as restrictions may lead to errors.
  Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  By following these steps, you should be able to identify and resolve the cause of the PFM_1370 error in your SAP system.