How To Fix FMFEES070 - Calculating an effective amount for &1 to &2.

FMFEES070 - Overview

• Message type: E = Error

• Message class: FMFEES - Fees

• Message number: 070

• Message text: Calculating an effective amount for &1 to &2.

What causes this issue?

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

System Response

If partial payments are involved in an interest calculation, the
interest rate is not applied to the net amount of the invoice but to an
"effective" amount.
Example:
Invoice: $1000
Partial Payment $800 (paid on 04/10/06)
Calculation Period 03/31/06 to 04/30/06 = 30 days
Interest Rate: 6%
Interest charge = $1000 * 0.06 * 30 / 360 - $800 * 0.06 * 20 / 360
= ( $1000 - $800 * 20 / 30 ) * 0.06 * 30
/360
= Effective amount * percentage * period
/360

How to fix this error?

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 FMFEES070 - Calculating an effective amount for &1 to &2. ?

  The SAP error message FMFEES070 typically occurs in the context of Funds Management (FM) when there is an issue with calculating an effective amount for a specific financial transaction or budget item. This error can arise due to various reasons, and understanding the cause and finding a solution is essential for resolving it.
  
  Cause:
  
  Incorrect Configuration: The error may be due to incorrect configuration settings in the Funds Management module, such as budget types, commitment items, or fund centers.
  Missing Data: Required data for the calculation may be missing or incomplete. This could include missing budget amounts, commitment items, or other relevant financial data.
  Data Inconsistencies: There may be inconsistencies in the data, such as mismatched or incorrect entries in the budget or commitment items.
  Authorization Issues: Sometimes, the user may not have the necessary authorizations to perform the transaction, leading to errors in calculations.
  Technical Issues: There could be underlying technical issues, such as problems