How To Fix RY134 - Financial object exists for generic trans. &1; status &2 not permitted

SAP Error Message - Details

• Message type: E = Error

• Message class: RY - Messages for RM Basis

• Message number: 134

• Message text: Financial object exists for generic trans. &1; status &2 not permitted

What causes this issue?

A financial object with the number &V3& has already been created for the
generic transaction with the external number &V1&. The status cannot be
changed to &V2& because no financial objects can be created for this
status.

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?

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message RY134 - Financial object exists for generic trans. &1; status &2 not permitted ?

  The SAP error message RY134 indicates that there is a financial object (such as a cost center, internal order, or project) that exists for a generic transaction type, but the status of that financial object is not permitted for the operation you are trying to perform. This typically occurs in the context of financial postings or transactions where the status of the financial object restricts certain actions.
  Cause:
  
  Status Restrictions: The financial object (e.g., cost center, internal order) may be in a status that does not allow for the transaction you are attempting. For example, it could be closed, locked, or in a status that prohibits further postings.
  Generic Transaction Type: The transaction type you are using may not be compatible with the status of the financial object.
  Configuration Issues: There may be configuration settings in the system that restrict certain transactions based on the status of financial objects.
  
  Solution:
  
  
  Check Financial Object Status: 
  
  Navigate to the financial object in question (e.g., cost center, internal order) and check its status. Ensure that it is open and available for the type of transaction you are trying to perform.
  If the object is closed or locked, you may need to change its status or use a different financial object.
  
  
  
  Review Transaction Type: 
  
  Ensure that the transaction type you are using is appropriate for the financial object. If necessary, consult with your SAP configuration team to verify that the transaction type is set up correctly.
  
  
  
  Consult Configuration Settings: 
  
  If you have access, review the configuration settings related to financial objects and transaction types in the SAP system. Look for any restrictions that may be causing the issue.
  
  
  
  Contact Support: 
  
  If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting with an SAP expert who can provide further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like KS03 (Display Cost Center), KO03 (Display Internal Order), or CJ03 (Display Project) to check the status of the financial objects.
  Authorization: Ensure that you have the necessary authorizations to view and modify the financial objects in question.
  Documentation: Refer to SAP documentation or help resources for more detailed information on financial object statuses and transaction types.
  
  By following these steps, you should be able to identify the cause of the error and take appropriate action to resolve it.