No status assigned to version 0 in FM area MFMA . Message No FMCU

Hi Gurus,

Have been doing the setting of Fund management / Budget. Need advice for 3 issues in this regard.

Issue No. 1 - Is it possible to create period-wise budget in ECC 6.00 ?

Issue No 2 : I selected the standard version of 0 in "OF21" - Define Budget Version.

But, i am not able to assign it with " Set Activation Procedure for Budget version"

Issue No. 3 : I tried to create a budget values in "FMBBC" - Public Sector management > Fund Management > Budgeting > Entry Documents > Create. But system throws a following error.

No status assigned to version 0 in FM area MFMA

Message no. FMCU006

Diagnosis

You want to use version 0 in FM area MFMA but there is no status assigned to version 0 in FM area MFMA.

Procedure

If you want to use this version with this FM area, please maintain the settings under Assignment of Status.

You can also select another version for budgeting in this FM area instead.

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Kindly advise me how to rectify all these 3 issues ?

Thanks in advance,

Devi Aparna