How To Fix FS501 - Enter either house bank or bank key data

SAP Error Message - Details

• Message type: E = Error

• Message class: FS - Messages from Tax Routines / Prenumbered Checks

• Message number: 501

• Message text: Enter either house bank or bank key data

How to fix this error?

The system needs bank data in order to be able to find check
information. You must therefore enter either the external bank data
(bank number and bank account number) or the SAP bank keys (house bank
and bank account key).

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

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FS501 - Enter either house bank or bank key data ?

  The SAP error message FS501 ("Enter either house bank or bank key data") typically occurs in the context of financial transactions, particularly when dealing with payment processing or bank master data. This error indicates that the system requires either a house bank or bank key data to proceed with the transaction, but neither has been provided.
  Cause:
  
  Missing House Bank: The house bank is not specified in the transaction or configuration.
  Missing Bank Key: The bank key (which identifies the bank in the system) is not provided.
  Incorrect Configuration: The configuration for the house bank or bank key may not be set up correctly in the system.
  Data Entry Error: The user may have overlooked entering the required information in the relevant fields.
  
  Solution:
  To resolve the FS501 error, you can take the following steps:
  
  
  Check Transaction Data:
  
  Ensure that you have entered either a house bank or bank key in the relevant fields of the transaction.
  If you are processing a payment, verify that the payment method is correctly configured to use the appropriate bank details.
  
  
  
  Verify House Bank Configuration:
  
  Go to the transaction code FI12 (House Bank) to check if the house bank is set up correctly.
  Ensure that the house bank is assigned to the correct company code and that all necessary details (like bank account number, bank key, etc.) are filled in.
  
  
  
  Check Bank Key Configuration:
  
  Use transaction code FI01 (Create Bank) or FI02 (Change Bank) to verify that the bank key is correctly configured in the system.
  Ensure that the bank key is active and linked to the appropriate house bank.
  
  
  
  Review Payment Method Configuration:
  
  Check the payment method configuration in transaction code FBZP (Maintain Payment Program) to ensure that the payment method is correctly linked to the house bank or bank key.
  
  
  
  User Input:
  
  If the error occurs during data entry, ensure that users are trained to input the necessary bank details correctly.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for any specific configurations or requirements related to your organization's setup.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  FI12: House Bank Maintenance
  FI01: Create Bank Master Data
  FI02: Change Bank Master Data
  FBZP: Payment Program Configuration
  
  
  
  SAP Notes: Check for any relevant SAP Notes that might address specific issues related to this error message.
  
  
  User Roles: Ensure that the user has the necessary authorizations to access and modify bank-related data.
  
  
  By following these steps, you should be able to identify the cause of the FS501 error and implement the necessary solutions to resolve it.