How To Fix FSC1048 - No terms of payment exist for contract account &v1&

FSC1048 - Overview

• Message type: E = Error

• Message class: FSC1 - FI-CA Extended: Message Class

• Message number: 048

• Message text: No terms of payment exist for contract account &v1&

What causes this issue?

The terms of payment for contract account &v1& have not been maintained.

System Response

Error message

How to fix this error?

Maintain the terms of payment for contract account &1.
INCLUDE FICA_NA_CUST_2 OBJECT DOKU ID TX

Procedure for System Administrators

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.

FSC1048 - Details

• The SAP error message FSC1048, which states "No terms of payment exist for contract account &v1&," typically occurs in the context of financial transactions, particularly when dealing with contract accounts in SAP's Financial Accounting (FI) module. This error indicates that the system cannot find any payment terms associated with the specified contract account.
  
  Cause:
  
  Missing Payment Terms: The most common cause is that the contract account does not have any payment terms defined in the system.
  Incorrect Configuration: There may be an issue with the configuration of payment terms in the system, or the payment terms may not be properly assigned to the contract account.
  Data Entry Error: There could be a mistake in the data entry when creating or modifying the contract account.
  Account Type: The account type may not support payment terms, or the payment terms may not be applicable for the specific transaction type.
  
  
  Solution:
  
  
  Define Payment Terms:
  
  Go to the transaction code OBB8 (Define