How To Fix FI_E077 - Penalty interest rates have not been maintained

SAP Error Message - Details

• Message type: E = Error

• Message class: FI_E - Message Class for FM English Developers

• Message number: 077

• Message text: Penalty interest rates have not been maintained

What causes this issue?

You have not maintained the penalty interest rates table.

System Response

No interest penalties can be calculated for the vendor invoice(s)
selected for payment.

How to fix this error?

Use the following link to maintain penalty interest ratesfor a valid
period:

<DS:TRAN.OFIR>Maintain penalty interest rates</>
ENDIF

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FI_E077 - Penalty interest rates have not been maintained ?

  The SAP error message FI_E077 indicates that penalty interest rates have not been maintained in the system. This error typically arises in the context of financial transactions, particularly when dealing with overdue payments or interest calculations.
  Cause:
  The error occurs when the system attempts to calculate penalty interest for overdue items, but the necessary interest rate data has not been configured in the system. This can happen for several reasons:
  
  Missing Configuration: The penalty interest rates have not been set up in the relevant configuration settings.
  Incorrect Settings: The settings may be incomplete or incorrectly maintained.
  Data Migration Issues: If the system has recently undergone a migration or upgrade, the interest rates may not have been transferred or set up correctly.
  
  Solution:
  To resolve the FI_E077 error, you need to maintain the penalty interest rates in the SAP system. Here are the steps to do this:
  
  
  Access the Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to the following path: SPRO -> SAP Reference IMG -> Financial Accounting -> Accounts Receivable and Accounts Payable -> Business Transactions -> Interest Calculation -> Define Penalty Interest Rates.
  
  
  
  Maintain Penalty Interest Rates:
  
  In the configuration screen, you can define the penalty interest rates for different scenarios (e.g., for different currencies, customer groups, etc.).
  Ensure that you enter the correct interest rates and any other relevant parameters.
  
  
  
  Save Changes:
  
  After entering the necessary information, save your changes.
  
  
  
  Test the Configuration:
  
  After maintaining the penalty interest rates, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Documentation: Refer to SAP Help documentation for detailed instructions on maintaining penalty interest rates.
  Transaction Codes: You may use transaction codes like OBBA (for maintaining interest calculation) or FB70 (for posting customer invoices) to test the configuration.
  User Roles: Ensure that you have the necessary authorizations to make changes in the configuration settings.
  Support: If you continue to face issues, consider reaching out to your SAP support team or consulting with an SAP FI (Financial Accounting) expert.
  
  By following these steps, you should be able to resolve the FI_E077 error and ensure that penalty interest calculations are functioning correctly in your SAP system.