How To Fix FS722 - Tax code & does not yet exist

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 722

• Message text: Tax code & does not yet exist

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 FS722 - Tax code & does not yet exist ?

  The SAP error message FS722, which states "Tax code & does not yet exist," typically occurs when a transaction is trying to use a tax code that has not been defined in the system. This can happen in various modules, such as Financial Accounting (FI) or Controlling (CO), when processing invoices, payments, or other financial transactions.
  Cause:
  
  Missing Tax Code: The tax code specified in the transaction does not exist in the system.
  Incorrect Configuration: The tax code may not have been properly configured in the system.
  Data Entry Error: There may be a typographical error in the tax code entered in the transaction.
  Tax Code Deactivation: The tax code might have been deactivated or deleted in the system.
  
  Solution:
  
  
  Check Tax Code Configuration:
  
  Go to the transaction code OBYZ (or FTXP) to check the tax codes defined in the system.
  Ensure that the tax code in question is listed and properly configured.
  
  
  
  Create or Modify Tax Code:
  
  If the tax code does not exist, you can create it using the transaction code FTXP.
  Fill in the necessary details such as tax type, percentage, and other relevant information.
  
  
  
  Verify Data Entry:
  
  Double-check the transaction where the error occurred to ensure that the tax code was entered correctly.
  Look for any leading or trailing spaces or incorrect characters.
  
  
  
  Check for Deactivation:
  
  If the tax code was previously active but is now giving an error, check if it has been deactivated.
  You can reactivate it if necessary.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about the tax code requirements, consult with your finance or accounting team to ensure compliance with local tax regulations.
  
  
  
  Related Information:
  
  Tax Codes in SAP: Tax codes are used to determine the tax calculation for transactions. They are essential for compliance with tax regulations.
  Transaction Codes:
  
  OBYZ: Configuration for tax codes.
  FTXP: Create or change tax codes.
  
  
  Documentation: Refer to SAP documentation or help files for detailed steps on configuring tax codes and understanding their implications in financial transactions.
  
  By following these steps, you should be able to resolve the FS722 error and ensure that the necessary tax codes are correctly set up in your SAP system.