How To Fix FQ743 - Enter either an interest indicator or an interest rate

SAP Error Message - Details

• Message type: E = Error

• Message class: FQ - Payment Requests and Payment Program

• Message number: 743

• Message text: Enter either an interest indicator or an interest rate

What causes this issue?

To calculate the interest you can either enter an interest rate
directly or, by entering an interest indicator, you can choose an
interest rate which is stored in Customizing.
If you enter both, contradictions can arise. It is therefore not
allowed to enter an interest rate and an interest indicator..

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?

Check your entries.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FQ743 - Enter either an interest indicator or an interest rate ?

  The SAP error message FQ743, which states "Enter either an interest indicator or an interest rate," typically occurs in the context of financial transactions, particularly when dealing with interest calculations in the SAP system. This error indicates that the system requires either an interest indicator or an interest rate to proceed with the transaction.
  Cause:
  
  Missing Data: The most common cause of this error is that the user has not entered either an interest indicator or an interest rate in the relevant fields of the transaction.
  Configuration Issues: There may be configuration settings in the SAP system that require specific fields to be filled out for certain transactions.
  Transaction Type: The type of transaction being processed may require interest calculations, and if the necessary data is not provided, the system will throw this error.
  
  Solution:
  
  
  Enter Required Data:
  
  Go back to the transaction screen where the error occurred.
  Check the fields for interest indicator and interest rate.
  Enter either a valid interest indicator (which may refer to a predefined interest type in the system) or a specific interest rate.
  
  
  
  Review Configuration:
  
  If you are a system administrator or have access to configuration settings, review the settings related to interest calculations in the relevant financial module (e.g., Accounts Receivable, Accounts Payable).
  Ensure that the necessary fields are configured correctly and that defaults are set if applicable.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help files related to the specific transaction you are working on. This may provide insights into what data is required.
  
  
  
  User Training:
  
  If this error is frequently encountered by users, consider providing training or documentation to ensure that users understand what data is required for transactions involving interest calculations.
  
  
  
  Contact Support:
  
  If the issue persists and you are unable to resolve it, consider reaching out to your SAP support team or consulting with SAP support for further assistance.
  
  
  
  Related Information:
  
  Interest Indicator: This is typically a code that represents a specific type of interest calculation (e.g., fixed, variable, etc.) and is often predefined in the system.
  Interest Rate: This is the actual percentage rate that will be applied to the principal amount for calculating interest.
  Transaction Context: Understanding the context of the transaction (e.g., loan processing, invoice payment) can help in determining what data is necessary.
  
  By ensuring that the required fields are filled out correctly, you should be able to resolve the FQ743 error and proceed with your transaction.