How To Fix FMFEES042 - Fee type &1: Set flag "No interest calculation"

FMFEES042 - Overview

• Message type: E = Error

• Message class: FMFEES - Fees

• Message number: 042

• Message text: Fee type &1: Set flag "No interest calculation"

What causes this issue?

This fee type is either a penalty, administrative cost, or an interest
charge. No fees of this type are subject to interest charges.
Interest charges are only calculated for the net amount of the invoice.
Due to US Federal regulations, neither compound interest charges nor
interest charges on fees are allowed.

System Response

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

How to fix this error?

Set the <ZK>No percentage calc.</> flag in the general settings for the
<DS:DE.FM_FEE_TYPE>fee type</>.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FMFEES042 - Fee type &1: Set flag "No interest calculation" ?

  The SAP error message FMFEES042 indicates that there is an issue related to the configuration of fee types in the SAP system, specifically regarding the interest calculation for a particular fee type. The message suggests that the system is expecting a flag to be set for "No interest calculation" for the specified fee type.
  
  Cause:
  The error typically arises when:
  
  A fee type is configured to calculate interest, but the necessary settings or flags are not properly configured.
  The fee type in question is not set up to handle interest calculations, leading to inconsistencies in the system's processing logic.
  
  
  Solution:
  To resolve the FMFEES042 error, you can follow these steps:
  
  
  Access Fee Type Configuration:
  
  Go to the SAP transaction code SPRO to access the SAP Reference IMG (Implementation Guide).
  Navigate to the relevant path for fee type configuration, which is usually found under:
  Public Sector Management -> Funds Management -> Fee Management -> Define Fee Types.
  
  
  
  
  
  Check Fee Type Settings:
  
  Locate the