How To Fix UPF058 - Formula error: Formula element &1 could not be recognized

UPF058 - Overview

• Message type: E = Error

• Message class: UPF - Planning Functions

• Message number: 058

• Message text: Formula error: Formula element &1 could not be recognized

What causes this issue?

The formula syntax check revealed, that formula element &V1& cannot be
identified. It could be an incorrectly written key word, a variable or
a master record.

System Response

The formula function cannot be executed or saved with the current
parameter group.

How to fix this error?

Correct the formula element &V1&.
Note: This error message can also occur in some situations when it
deals with a followup error. This means that the unidentified formula
element is possibly correct, but a previous part of the formula is the
real cause of the error. If you can recognize no error in formula
element &V1&, then check the previous part of the formula for possible
errors.

Error message extract from SAP system. Copyright SAP SE.

UPF058 - Details

• The SAP error message UPF058, which states "Formula error: Formula element &1 could not be recognized," typically occurs in the context of SAP Payroll or other applications that utilize formula processing. This error indicates that the system encountered a formula element that it could not identify or process correctly.
  Causes:
  
  Typographical Errors: There may be a typo in the formula element name, causing the system to fail to recognize it.
  Missing or Incorrect Configuration: The formula element may not be defined in the system, or it may not be configured correctly.
  Version Issues: The formula might be using elements that are not available in the current version of the system or module.
  Authorization Issues: The user may not have the necessary authorizations to access certain formula elements.
  Changes in the Schema: If there have been recent changes to the payroll schema or the formula itself, it may lead to recognition issues.
  
  Solutions:
  
  Check the Formula Syntax: Review the