How To Fix 1E292 - Please identify the bank account as vostro or nostro account

SAP Error Message - Details

• Message type: E = Error

• Message class: 1E - BCA: Account

• Message number: 292

• Message text: Please identify the bank account as vostro or nostro account

What causes this issue?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

How to fix this error?

Identify the account from the account opening date &v1& or earlier as a
vostro or nostro account.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message 1E292 - Please identify the bank account as vostro or nostro account ?

  The SAP error message 1E292, which states "Please identify the bank account as vostro or nostro account," typically occurs in the context of financial transactions involving bank accounts. This error indicates that the system requires clarification on the type of bank account being used in the transaction.
  Cause:
  
  Account Type Not Defined: The bank account in question has not been classified as either a nostro or vostro account in the system.
  Configuration Issues: There may be a configuration issue in the bank account settings within the SAP system.
  Missing Data: The necessary data to identify the account type may be missing or incorrectly entered.
  
  Solutions:
  
  
  Check Bank Account Configuration:
  
  Navigate to the bank account settings in SAP (Transaction code: FI12 or similar).
  Ensure that the account is properly defined as either a nostro or vostro account.
  If it is not defined, update the account settings accordingly.
  
  
  
  Update Master Data:
  
  If the account type is missing, you may need to update the master data for the bank account.
  Ensure that all relevant fields are filled out correctly, including the account type.
  
  
  
  Consult with Financial Team:
  
  If you are unsure about the classification of the account, consult with your finance or accounting team to determine the correct classification.
  They can provide guidance on whether the account should be classified as a nostro or vostro account based on your organization's banking practices.
  
  
  
  Review Documentation:
  
  Check any internal documentation or guidelines regarding bank account classifications to ensure compliance with your organization's policies.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Nostro Account: A nostro account is a bank account held in a foreign currency in another bank. It is used by a bank to manage its foreign currency transactions.
  Vostro Account: A vostro account is a bank account held by a foreign bank in the domestic bank's currency. It is used by foreign banks to manage their domestic currency transactions.
  SAP Configuration: Ensure that your SAP system is configured correctly for handling foreign currency transactions and that all relevant settings are in place.
  
  If the issue persists after following these steps, it may be necessary to consult with your SAP support team or a technical consultant for further assistance.