How To Fix 1FA586 - No. of days for prenotification of maturity cannot exceed term duration

SAP Error Message - Details

• Message type: E = Error

• Message class: 1FA - Betragskündigungen und Freibeträge

• Message number: 586

• Message text: No. of days for prenotification of maturity cannot exceed term duration

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message 1FA586 - No. of days for prenotification of maturity cannot exceed term duration ?

  The SAP error message "1FA586 No. of days for prenotification of maturity cannot exceed term duration" typically occurs in the context of financial transactions, particularly when dealing with fixed-term investments or loans in the SAP system. This error indicates that the prenotification period set for the maturity of a financial instrument exceeds the actual term duration of that instrument.
  Cause:
  
  Configuration Issue: The prenotification period (the time before maturity when a notification is sent) is set to a value that is greater than the term duration of the financial instrument.
  Data Entry Error: During the creation or modification of a financial instrument, the user may have mistakenly entered an incorrect prenotification period.
  System Settings: The system settings or parameters for the financial product may not align with the expected values.
  
  Solution:
  
  Check the Term Duration: Review the term duration of the financial instrument in question. Ensure that it is correctly defined and reflects the actual duration of the investment or loan.
  Adjust Prenotification Period: Modify the prenotification period to ensure it is less than or equal to the term duration. This can usually be done in the transaction or configuration settings where the financial instrument is defined.
  Review Configuration Settings: If the issue persists, check the configuration settings for the financial product in the SAP system. Ensure that the parameters for prenotification and term duration are correctly set.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on the financial product configuration and error handling.
  Contact Support: If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  Related Information:
  
  Transaction Codes: Depending on your SAP version, you may need to use specific transaction codes to access the financial instrument settings (e.g., transaction codes like FTR_EDIT for financial transactions).
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on configuration settings.
  User Roles: Ensure that you have the appropriate permissions to make changes to financial instruments and their settings in the SAP system.
  
  By following these steps, you should be able to identify the cause of the error and implement the necessary changes to resolve it.