How To Fix 06262 - Enter terms of payment for supplier

SAP Error Message - Details

• Message type: E = Error

• Message class: 06 -

• Message number: 262

• Message text: Enter terms of payment for supplier

What causes this issue?

You have either not entered any terms of payment or entered terms of
payment that are not valid for the supplier.

How to fix this error?

Enter terms of payment that are valid for the supplier.
If you are not familiar with the possible terms of payment, use the
"Possible entries" help facility.

Error message extract from SAP system. Copyright SAP SE.

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• What is the cause and solution for SAP error message 06262 - Enter terms of payment for supplier ?

  The SAP error message "06262 Enter terms of payment for supplier" typically occurs when you are trying to create or modify a vendor (supplier) master record, and the system requires you to specify the terms of payment for that supplier. This is a common requirement in SAP to ensure that payment conditions are clearly defined for each vendor.
  Cause:
  The error arises because:
  
  The terms of payment field is mandatory and has not been filled in.
  The vendor master record is incomplete, and the system requires additional information to proceed.
  The terms of payment may not be defined in the system for the specific vendor or purchasing organization.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Access Vendor Master Record:
  
  Go to the transaction code XK02 (Change Vendor) or MK02 (Change Vendor for Purchasing) depending on your needs.
  
  
  
  Enter Vendor Information:
  
  Input the vendor number and the relevant purchasing organization.
  
  
  
  Navigate to Payment Transactions:
  
  Go to the "Payment Transactions" tab or section in the vendor master record.
  
  
  
  Enter Terms of Payment:
  
  In the "Terms of Payment" field, enter the appropriate terms of payment code. This code defines the payment conditions agreed upon with the supplier (e.g., net 30 days, 2% discount if paid within 10 days, etc.).
  
  
  
  Save Changes:
  
  After entering the required information, save the changes to the vendor master record.
  
  
  
  Check for Existing Terms of Payment:
  
  If you are unsure about the terms of payment codes available, you can check the configuration in the SAP system or consult with your finance or procurement team.
  
  
  
  Related Information:
  
  Terms of Payment Configuration: The terms of payment can be configured in the SAP system under the Financial Accounting (FI) module. You can access this configuration via transaction code OBB8 to define or modify payment terms.
  Vendor Master Data: Ensure that all required fields in the vendor master data are filled out correctly, as incomplete data can lead to various errors.
  User Authorization: Ensure that you have the necessary permissions to modify vendor master records in SAP.
  
  By following these steps, you should be able to resolve the error message and successfully enter the terms of payment for the supplier in SAP.