How To Fix FINLOC_JP_INVSUM023 - Enter valid payment term for & company code

SAP Error Message - Details

• Message type: E = Error

• Message class: FINLOC_JP_INVSUM -

• Message number: 023

• Message text: Enter valid payment term for & company code

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

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.

Unfortunately, there isn't any extra information in this error notice.

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Also, review the in-depth Common Questions & Answers listed below; you could discover a solution there or be able to connect with others who have faced similar challenges.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINLOC_JP_INVSUM023 - Enter valid payment term for & company code ?

  The SAP error message FINLOC_JP_INVSUM023 indicates that there is an issue with the payment term specified for a particular company code in the system. This error typically arises when the payment term entered is either invalid, not defined for the specified company code, or not applicable for the transaction being processed.
  Cause:
  
  Invalid Payment Term: The payment term entered does not exist in the system.
  Company Code Configuration: The payment term may not be assigned to the specific company code in the configuration settings.
  Transaction Type: The payment term may not be applicable for the type of transaction being processed (e.g., invoice, payment).
  Data Entry Error: There may be a typographical error in the payment term entered.
  
  Solution:
  
  
  Check Payment Term:
  
  Verify that the payment term you are trying to use is correctly defined in the system.
  Go to the transaction code OBB8 to view and manage payment terms.
  
  
  
  Assign Payment Term to Company Code:
  
  Ensure that the payment term is assigned to the relevant company code. You can check this in the configuration settings.
  Use transaction code OBB2 to assign payment terms to the company code if necessary.
  
  
  
  Review Transaction Type:
  
  Confirm that the payment term is appropriate for the transaction type you are processing. Some payment terms may only be valid for specific types of transactions.
  
  
  
  Correct Data Entry:
  
  Double-check the payment term entered for any typographical errors. Ensure that it matches the defined payment terms in the system.
  
  
  
  Consult Documentation:
  
  If you are unsure about the payment terms or their configurations, refer to the SAP documentation or consult with your SAP administrator for guidance.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  OBB8: Define Payment Terms
  OBB2: Assign Payment Terms to Company Code
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to payment terms and company codes.
  User Roles: Ensure that you have the necessary permissions to view and modify payment terms and company code settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in financial configurations within SAP.