Item Tracking Codes : Lot No. Info. Must Exist

Inbound - to your inventory, outbound - from inventory. If you check this, entry in the Lot. No Information table must be created first to be able to post the item journal. E.g. these records could keep some additional information about the lot etc.

Do you know what that function does and why it's giving you that error? If not, then find out exactly what it does and how it may/may not benefit your operations. The best way to learn what it does is through the online help.

My response is to address the error message you have and from my experience setting up lot numbers.