How To Fix FI_E241 - No Accelerated Pay payment term has been maintained

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 241

• Message text: No Accelerated Pay payment term has been maintained

<DS:SIMG.SIMG_PSFMG_OF23N>&CAUSE&</>
You have the Prompt Payment Act (PPA) feature active in your company
code.
This vendor invoice is eligible for Accelerated Pay, but an Accelerated
Pay payment term has not been maintained in the Customizing table for
Fast Pay/Accelerated Pay payment terms.

System Response

The PPA function does not allow you to post this invoice.

How to fix this error?

Add an Accelerated Pay payment term in
<DS:SIMG.SIMG_PSFMG_OF23N>Maintain Payment Terms for Fast
Pay/Accelerated Pay</>.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FI_E241 - No Accelerated Pay payment term has been maintained ?

  The SAP error message FI_E241 ("No Accelerated Pay payment term has been maintained") typically occurs in the context of financial transactions, particularly when dealing with payment processing in the SAP system. This error indicates that the system is unable to find a valid payment term for accelerated payments, which are often used to expedite payment processing for certain vendors or invoices.
  Cause:
  
  Missing Payment Terms: The most common cause of this error is that the payment terms for accelerated payments have not been defined in the system.
  Configuration Issues: The payment terms may not be properly configured in the system settings, or the specific payment term may not be assigned to the vendor or invoice.
  Vendor Master Data: The vendor master record may not have the appropriate payment terms assigned.
  Transaction Type: The transaction being processed may require specific payment terms that are not set up in the system.
  
  Solution:
  To resolve the FI_E241 error, you can take the following steps:
  
  
  Check Payment Terms Configuration:
  
  Go to the configuration settings in SAP (Transaction code: SPRO).
  Navigate to Financial Accounting (New) > Accounts Payable > Payment Transactions > Define Payment Terms.
  Ensure that the accelerated payment terms are defined and active.
  
  
  
  Assign Payment Terms to Vendor:
  
  Use transaction code XK02 (Change Vendor) or FK02 (Change Vendor (Accounting)) to access the vendor master data.
  Check the payment terms field and ensure that the appropriate accelerated payment term is assigned to the vendor.
  
  
  
  Review Invoice or Transaction:
  
  If the error occurs during invoice processing, check the invoice details to ensure that the correct payment terms are being used.
  If necessary, modify the invoice to include the correct payment terms.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for any specific configurations or requirements related to accelerated payments in your organization.
  
  
  
  Testing:
  
  After making the necessary changes, test the transaction again to ensure that the error has been resolved.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as XK03 (Display Vendor), FB60 (Enter Incoming Invoice), and FBL1N (Vendor Line Item Display) for managing vendor data and invoices.
  SAP Notes: Check for any SAP Notes related to this error message for additional guidance or patches that may address the issue.
  User Roles and Authorizations: Ensure that you have the necessary authorizations to make changes to vendor master data and payment terms.
  
  By following these steps, you should be able to resolve the FI_E241 error and ensure that your payment processing runs smoothly.