How To Fix FTR_LC001 - Transaction type &1 is not assigned to product type &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FTR_LC - Message class for Letter of Credit

• Message number: 001

• Message text: Transaction type &1 is not assigned to product type &2

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FTR_LC001 - Transaction type &1 is not assigned to product type &2 ?

  The SAP error message FTR_LC001 indicates that a specific transaction type is not assigned to the product type in the system. This error typically occurs in the context of financial transactions, particularly in the area of treasury and risk management, where different transaction types (like loans, deposits, etc.) need to be associated with specific product types (like financial instruments).
  Cause:
  
  Configuration Issue: The most common cause of this error is that the transaction type you are trying to use has not been configured to be associated with the specified product type in the system.
  Missing Assignment: There may be a missing assignment in the customizing settings where the transaction type is not linked to the product type.
  Incorrect Input: The transaction type or product type entered may be incorrect or not exist in the system.
  
  Solution:
  
  
  Check Configuration:
  
  Go to the SAP Customizing Implementation Guide (IMG).
  Navigate to Financial Supply Chain Management > Treasury and Risk Management > Transaction Management > Define Transaction Types.
  Ensure that the transaction type you are trying to use is correctly assigned to the relevant product type.
  
  
  
  Assign Transaction Type to Product Type:
  
  If the assignment is missing, you will need to create or modify the assignment.
  In the same configuration area, look for the option to assign transaction types to product types and make the necessary adjustments.
  
  
  
  Verify Input:
  
  Double-check the transaction type and product type you are using in your transaction to ensure they are correct and exist in the system.
  
  
  
  Consult Documentation:
  
  Review any relevant documentation or guidelines provided by your organization regarding the configuration of transaction types and product types.
  
  
  
  Testing:
  
  After making changes, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Transaction Types: These are used to categorize different types of financial transactions in SAP. Each transaction type can have specific settings and rules.
  Product Types: These represent different categories of financial instruments or products in the system, such as loans, bonds, etc.
  SAP Notes: Check for any relevant SAP Notes that might address this specific error or provide additional guidance on configuration.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a consultant who specializes in SAP Treasury and Risk Management for further assistance.