How To Fix FKKPREP116 - Contract account &1 does not contain any outgoing payment method

FKKPREP116 - Overview

• Message type: E = Error

• Message class: FKKPREP - Prepaid Functions

• Message number: 116

• Message text: Contract account &1 does not contain any outgoing payment method

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.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FKKPREP116 - Contract account &1 does not contain any outgoing payment method ?

  The SAP error message FKKPREP116 indicates that the specified contract account does not have any outgoing payment method defined. This error typically occurs in the context of contract accounts in the SAP Financial Services module, particularly when processing payments or executing payment runs.
  
  Cause:
  The primary cause of this error is that the contract account (identified by the placeholder &1 in the error message) lacks a defined outgoing payment method. This can happen for several reasons:
  
  The payment method has not been set up for the contract account.
  The payment method is inactive or not applicable for the account.
  There may be configuration issues in the payment method settings.
  
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check Contract Account Settings:
  
  Go to the contract account in question using transaction code FD32 (for customer accounts) or FBL1N (for vendor accounts).
  Verify if an outgoing payment method is assigned to the account.
  
  
  
  Assign Payment Method:
  
  If no payment method is assigned,