How To Fix FIQA_LOC612 - Payment for &1 exceeds 97% of contract; vendor is liable for retention

SAP Error Message - Details

• Message type: E = Error

• Message class: FIQA_LOC - FI Localization for Qatar

• Message number: 612

• Message text: Payment for &1 exceeds 97% of contract; vendor is liable for retention

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FIQA_LOC612 - Payment for &1 exceeds 97% of contract; vendor is liable for retention ?

  The SAP error message FIQA_LOC612 indicates that a payment for a specific contract exceeds 97% of the total contract value, and as a result, the vendor is liable for retention. This is typically related to the management of contracts in the SAP system, particularly in the context of construction or service contracts where retention amounts are common.
  Cause:
  
  Contract Terms: The contract may have specific terms that stipulate that a certain percentage of the payment must be retained until the completion of the contract or until certain conditions are met.
  Payment Processing: The payment being processed exceeds the allowable limit (97% in this case) set by the contract terms.
  Retention Policy: The system is enforcing a retention policy that requires a portion of the payment to be withheld to ensure that the vendor completes the work satisfactorily.
  
  Solution:
  
  Review Contract Terms: Check the contract associated with the payment to understand the retention requirements. Ensure that the payment being processed aligns with these terms.
  Adjust Payment Amount: If the payment exceeds the allowable limit, consider adjusting the payment amount to ensure it does not exceed 97% of the contract value.
  Consult with Stakeholders: Discuss with relevant stakeholders (e.g., project managers, finance team) to determine if the payment can be processed in a way that complies with the contract terms.
  Release Retention: If applicable, ensure that the conditions for releasing the retention amount are met before processing further payments.
  System Configuration: If this behavior is not intended, review the configuration settings in the SAP system related to contract management and retention policies.
  
  Related Information:
  
  Retention Management: Understand the concept of retention in contracts, which is a common practice in construction and service contracts to ensure that the vendor completes the work satisfactorily.
  SAP Configuration: Familiarize yourself with the configuration settings in SAP related to contract management, payment processing, and retention policies.
  Documentation: Refer to SAP documentation or user manuals for detailed guidance on handling contract payments and retention issues.
  
  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 SAP FI (Financial Accounting) and contract management.