How To Fix 1FA307 - The account &1 does not have an active term agreement

1FA307 - Overview

• Message type: E = Error

• Message class: 1FA - Betragskündigungen und Freibeträge

• Message number: 307

• Message text: The account &1 does not have an active term agreement

What causes this issue?

Check the status of the term agreement on the account. The posting is
not possible unless there is an active term agreement for the posting
date.

Error message extract from SAP system. Copyright SAP SE.

1FA307 - Details

• The SAP error message 1FA307 indicates that the account specified does not have an active term agreement. This typically occurs in the context of financial transactions, particularly in modules related to accounts receivable or accounts payable, where term agreements define the payment terms for customers or vendors.
  
  Cause:
  
  Inactive Term Agreement: The term agreement for the specified account is either inactive or has not been set up correctly.
  Account Configuration: The account may not be properly configured in the system to have a term agreement.
  Data Entry Error: There may be a mistake in the account number or other related data that is causing the system to not find the correct term agreement.
  Missing Master Data: The necessary master data for the account may be incomplete or missing.
  
  
  Solution:
  
  
  Check Term Agreement Status:
  
  Navigate to the relevant transaction in SAP (e.g., transaction code OBB8 for payment terms) and verify if the term agreement for the account is active.
  If