How To Fix 67_LOAN024 - Choose the effect of the unsch. repayment: Reduce term or pmnt instalment

SAP Error Message - Details

• Message type: E = Error

• Message class: 67_LOAN - Messages for Fin. Asset Management for Loans - Continued

• Message number: 024

• Message text: Choose the effect of the unsch. repayment: Reduce term or pmnt instalment

How to fix this error?

As a result of the unscheduled repayment, you must opt for reduction in
the loan term (with or without updating the condition header) or a
reduction in the payment instalment.

Procedure for System Administrators

You can enter a default value for this field in Customizing.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message 67_LOAN024 - Choose the effect of the unsch. repayment: Reduce term or pmnt instalment ?

  The SAP error message 67_LOAN024 typically relates to loan management within the SAP system, specifically when dealing with unscheduled repayments. This error indicates that the system requires a decision on how to handle the effect of an unscheduled repayment: whether to reduce the loan term or adjust the payment installment.
  Cause:
  The error arises when a user attempts to process an unscheduled repayment without specifying how the repayment should affect the loan. The system needs to know whether to reduce the remaining term of the loan or to adjust the installment amount accordingly.
  Solution:
  To resolve this error, you need to take the following steps:
  
  
  Determine the Desired Effect: Decide whether you want the unscheduled repayment to:
  
  Reduce the loan term (i.e., pay off the loan faster).
  Reduce the payment installment (i.e., keep the term the same but lower the monthly payment).
  
  
  
  Input the Decision in the System: When processing the unscheduled repayment, ensure that you provide the necessary input to indicate your choice. This may involve selecting an option in the SAP interface or entering a specific code that reflects your decision.
  
  
  Reprocess the Transaction: After making your selection, reprocess the transaction to see if the error is resolved.
  
  
  Related Information:
  
  Documentation: Refer to the SAP documentation for loan management to understand the implications of each option (reducing term vs. reducing installment).
  Configuration Settings: Check the configuration settings in the SAP system related to loan management to ensure that the options for handling unscheduled repayments are correctly set up.
  User Training: Ensure that users involved in loan processing are trained on how to handle unscheduled repayments and understand the impact of their choices.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any specific patches or updates related to this error message.