How To Fix FI701 - Error in reading application of funds

FI701 - Overview

• Message type: E = Error

• Message class: FI - TR-FM Funds Management

• Message number: 701

• Message text: Error in reading application of funds

What causes this issue?

An error occurred when the application of funds was being read from the
database.

System Response

This error cannot be cleared within the application.

How to fix this error?

Notify your system administrator.

Error message extract from SAP system. Copyright SAP SE.

FI701 - Details

• The SAP error message FI701, which states "Error in reading application of funds," typically occurs in the context of the Funds Management (FM) module in SAP. This error indicates that there is an issue with the application of funds, which can arise from various reasons. Below are some common causes, potential solutions, and related information for this error:
  Causes:
  
  Missing or Incorrect Configuration: The configuration for the Funds Management module may not be set up correctly, leading to issues in reading the application of funds.
  Data Inconsistencies: There may be inconsistencies in the master data or transaction data related to funds management.
  Authorization Issues: The user may not have the necessary authorizations to access the funds management data.
  Incorrect Document Types: The document type used in the transaction may not be compatible with the funds management settings.
  Missing Funds Center or Commitment Item: The funds center or commitment item may not be defined or may be