How To Fix 5D642 - Set payment method for capital formation and company insurance

5D642 - Overview

• Message type: E = Error

• Message class: 5D - Error Messages for German Infotype Module Pools

• Message number: 642

• Message text: Set payment method for capital formation and company insurance

What causes this issue?

For infotypes capital formation (0010) and direct insurance (0026) the
new field payment method was filled though SPRY RPUVBDV0.
For infotype capital formation (0010) the field is filled if
the payment method was previously still initial and
the field bank country, bank postcode, bank account number are filled.
For infotype direct insurance (0026) the field is filled if
the payment method was previously still initial and
the field payee key is not filled and
the fields bank country, bank postcode, bank account number are filled.
The following reports state the number of the changed records for
infotype capital formation (0010) and direct insurance (9926).
&SYSTEM_RESPONSES&

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

How to fix this error?

Error message extract from SAP system. Copyright SAP SE.

5D642 - Details

• The SAP error message 5D642, which states "Set payment method for capital formation and company insurance," typically occurs in the context of payroll processing or employee benefits management. This error indicates that the system requires a payment method to be defined for specific deductions or contributions related to capital formation (like savings plans) and company insurance (like health or life insurance).
  
  Cause:
  
  Missing Configuration: The payment method for capital formation and company insurance has not been configured in the system.
  Employee Master Data: The employee's master data may not have the necessary payment method assigned.
  Payroll Schema: The payroll schema may not be set up to handle these specific deductions or contributions correctly.
  
  
  Solution:
  
  
  Configure Payment Methods:
  
  Go to the relevant configuration settings in SAP (usually in the SPRO transaction).
  Navigate to the section for payroll or employee benefits.
  Ensure that the payment methods for capital formation and company insurance are defined and active.
  
  
  
  Update Employee Master Data:
  
  Access the employee's