How To Fix FT062 - Tax code & is not defined for country &

SAP Error Message - Details

• Message type: E = Error

• Message class: FT - FI Table Maintenance Error Messages

• Message number: 062

• Message text: Tax code & is not defined for country &

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 FT062 - Tax code & is not defined for country & ?

  The SAP error message FT062 indicates that a specific tax code is not defined for a particular country in the system. This error typically arises during transactions that involve tax calculations, such as invoicing or posting financial documents.
  Cause:
  
  Missing Tax Code Configuration: The tax code specified in the transaction is not set up in the SAP system for the country in question.
  Incorrect Tax Code: The tax code entered may be incorrect or misspelled.
  Country-Specific Settings: The tax code may not be applicable for the specific country due to local tax regulations or settings.
  
  Solution:
  To resolve the FT062 error, follow these steps:
  
  
  Check Tax Code Configuration:
  
  Go to the SAP transaction code OBYZ (or OB40 depending on your version) to check the tax codes defined for the country.
  Ensure that the tax code in question is listed and properly configured for the relevant country.
  
  
  
  Define Tax Code:
  
  If the tax code is missing, you will need to create it. Use transaction code FTXP to define a new tax code.
  Enter the necessary details, including the tax percentage and the country.
  
  
  
  Verify Tax Code Usage:
  
  Ensure that the tax code is applicable for the type of transaction you are processing. Some tax codes may only be valid for specific transaction types.
  
  
  
  Check Master Data:
  
  Review the master data (e.g., vendor or customer master records) to ensure that the correct tax code is assigned.
  
  
  
  Consult with Tax Experts:
  
  If you are unsure about the correct tax code to use, consult with your finance or tax department to ensure compliance with local tax regulations.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  OBYZ: Maintain Tax Codes
  FTXP: Maintain Tax Code
  OB40: Define Tax Codes for Country
  
  
  Documentation: Refer to SAP Help documentation for detailed instructions on tax configuration.
  Testing: After making changes, perform a test transaction to ensure that the error is resolved.
  
  By following these steps, you should be able to resolve the FT062 error and ensure that the tax code is properly defined for the specified country in your SAP system.