G00505 - You can choose only 1 valuation allowance (allowing or disallowing loss)

SAP Error Message - Details

• Message type: E = Error

• Message class: G00 - SAP Consolidation

• Message number: 505

• Message text: You can choose only 1 valuation allowance (allowing or disallowing loss)

What causes this issue?

You specified both a valuation allowance that allows a loss and one
that disallows a loss. Only one of these types of valuation allowances
can be processed.

System Response

Processing terminated

How to fix this error?

Specify either valuation allowance with loss allowed or disallowed.

Error message extract from SAP system. Copyright SAP SE.

AnswerBot

• What is the cause and solution for SAP error message G00505 - You can choose only 1 valuation allowance (allowing or disallowing loss) ?

  The SAP error message G00505 indicates that there is a conflict in the valuation allowance settings for a particular financial transaction or asset. This error typically arises in the context of financial accounting and asset management, particularly when dealing with loss allowances for assets.
  Cause:
  The error occurs when the system detects that there are multiple valuation allowances set for a single asset or transaction, which is not permissible. In SAP, you can only choose one valuation allowance for a given asset or transaction, either allowing or disallowing the loss. This conflict can arise due to:
  
  Configuration Issues: Incorrect settings in the asset accounting configuration.
  Data Entry Errors: Multiple entries or conflicting settings in the asset master data.
  Transaction Processing: Attempting to process a transaction that conflicts with existing valuation allowances.
  
  Solution:
  To resolve the G00505 error, you can follow these steps:
  
  
  Check Asset Master Data:
  
  Go to the asset master record and review the valuation allowance settings.
  Ensure that only one valuation allowance is set (either allowing or disallowing loss).
  
  
  
  Review Configuration Settings:
  
  Check the configuration in the Asset Accounting (FI-AA) module to ensure that the valuation allowance settings are correctly defined.
  You may need to consult with your SAP configuration team to verify that the settings align with your organization's accounting policies.
  
  
  
  Correct Data Entries:
  
  If there are conflicting entries, correct them by either removing or adjusting the valuation allowance settings.
  Ensure that all relevant transactions are consistent with the chosen valuation allowance.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on handling valuation allowances in your version of SAP.
  
  
  
  Testing:
  
  After making the necessary adjustments, test the transaction again to ensure that the error is resolved.
  
  
  
  Related Information:
  
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as AS01 (Create Asset), AS02 (Change Asset), and AS03 (Display Asset) to manage asset data effectively.
  User Roles: Ensure that users have the appropriate roles and authorizations to make changes to asset master data and valuation allowances.
  
  If the issue persists after following these steps, it may be beneficial to engage with your SAP support team or consult with an SAP expert for further assistance.