How To Fix F0344 - Only 1 or 2 permitted for the collective settlement of foreign transfers

SAP Error Message - Details

• Message type: E = Error

• Message class: F0 - FI batch program messages

• Message number: 344

• Message text: Only 1 or 2 permitted for the collective settlement of foreign transfers

Self-Explanatory Message

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To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message F0344 - Only 1 or 2 permitted for the collective settlement of foreign transfers ?

  The SAP error message F0344, which states "Only 1 or 2 permitted for the collective settlement of foreign transfers," typically occurs in the context of financial transactions, particularly when dealing with collective settlements in foreign currency transfers. This error indicates that the system is expecting a specific value for the collective settlement type, and the value provided does not meet the criteria.
  Cause:
  The error is usually caused by one of the following reasons:
  
  Incorrect Settlement Type: The system is configured to accept only specific values (1 or 2) for the collective settlement of foreign transfers, and a different value has been entered.
  Configuration Issues: There may be a configuration issue in the financial settings related to foreign currency transactions or collective settlements.
  Data Entry Error: A user may have mistakenly entered an invalid value in the relevant field.
  
  Solution:
  To resolve the F0344 error, you can take the following steps:
  
  
  Check the Input Value: Ensure that the value entered for the collective settlement type is either 1 or 2. If a different value is being used, correct it to one of the permitted values.
  
  
  Review Configuration Settings:
  
  Go to the configuration settings in SAP related to financial accounting and collective settlements.
  Verify that the settings for foreign currency transfers are correctly configured to accept the values 1 and 2.
  
  
  
  Consult Documentation: Refer to SAP documentation or help files for specific details on the collective settlement process and the expected values.
  
  
  User Training: If the error is due to user input, consider providing training or guidelines to users on how to correctly enter data related to foreign transfers.
  
  
  Contact SAP Support: If the issue persists after checking the above points, it may be necessary to contact SAP support for further assistance, especially if there are underlying configuration issues that need to be addressed.
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes in SAP that deal with financial transactions, such as F-28 (Post Incoming Payments) or F-53 (Post Outgoing Payments).
  SAP Notes: Check for any SAP Notes related to error F0344, as they may provide additional insights or patches that could resolve the issue.
  Testing: After making changes, conduct tests to ensure that the error no longer occurs and that the collective settlement process works as intended.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.