How To Fix FI_E248 - PCARD basis points are greater than CVFR. Payment term changed to &1

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 248

• Message text: PCARD basis points are greater than CVFR. Payment term changed to &1

What causes this issue?

You have the Prompt Payment Act (PPA) function active for your company
code.
The basis points offered by the purchase card issuer are greater than
the daily basis points of the Current Value of Funds (CVFR) rate. Saving
will be maximized by paying at the earliest date. The payment term has
automatically been converted to the configured "Accelerated Pay" payment
term.

System Response

The system automatically changes the payment term to the configured
Accelerated Pay payment term.

How to fix this error?

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

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FI_E248 - PCARD basis points are greater than CVFR. Payment term changed to &1 ?

  The SAP error message FI_E248 indicates that there is an issue with the payment terms related to a procurement card (PCARD) transaction. Specifically, it states that the basis points for the PCARD are greater than the CVFR (Cash Value for Rebate) value, which leads to the system changing the payment term to a different value (indicated by &1).
  Cause:
  
  Basis Points Calculation: The basis points for the PCARD may have been set too high compared to the CVFR. This can happen due to incorrect configuration or data entry.
  Configuration Issues: The payment terms or rebate agreements may not be properly configured in the system, leading to discrepancies.
  Data Entry Errors: Incorrect values may have been entered in the master data or transaction data related to the PCARD or payment terms.
  
  Solution:
  
  
  Review Configuration: Check the configuration settings for payment terms and PCARD in the SAP system. Ensure that the basis points and CVFR values are set correctly.
  
  Navigate to the relevant configuration settings in SPRO (SAP Project Reference Object) and verify the settings for payment terms and rebate agreements.
  
  
  
  Adjust Basis Points: If the basis points are indeed set too high, consider adjusting them to be in line with the CVFR.
  
  This may involve discussions with the finance or procurement teams to understand the rationale behind the current settings.
  
  
  
  Check Master Data: Review the master data for the vendor or customer associated with the transaction. Ensure that all relevant fields are populated correctly and that there are no discrepancies.
  
  
  Transaction Review: If the error occurs during a specific transaction, review the transaction details to ensure that all values are entered correctly and that they comply with the defined payment terms.
  
  
  Consult Documentation: Refer to SAP documentation or help resources for further insights into the error message and its implications.
  
  
  Testing: After making adjustments, perform testing to ensure that the changes resolve the issue and that the payment terms are applied correctly.
  
  
  Related Information:
  
  Basis Points: A basis point is a unit of measure used in finance to describe the percentage change in value or interest rates. One basis point is equal to 1/100th of a percentage point.
  CVFR (Cash Value for Rebate): This is a financial term that refers to the cash value associated with a rebate agreement, which can affect payment terms and conditions.
  Payment Terms: These are the conditions under which a seller will complete a sale, including when payment is due and any discounts for early payment.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a technical consultant who can provide deeper insights into the specific configuration and data issues within your SAP environment.