How To Fix FV701 - House bank and account ID were not maintained in Lockbox Customizing

SAP Error Message - Details

• Message type: E = Error

• Message class: FV - Electronic Banking Messages

• Message number: 701

• Message text: House bank and account ID were not maintained in Lockbox Customizing

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FV701 - House bank and account ID were not maintained in Lockbox Customizing ?

  The SAP error message FV701 indicates that the house bank and account ID have not been maintained in the Lockbox Customizing settings. This error typically occurs when you are trying to process lockbox transactions, and the system cannot find the necessary configuration to link the house bank with the corresponding account.
  Cause:
  
  Missing Configuration: The house bank and account ID have not been set up in the Lockbox Customizing settings.
  Incorrect Settings: The settings may be incorrectly configured or incomplete.
  Data Entry Error: There may be a typo or incorrect entry in the house bank or account ID fields.
  
  Solution:
  To resolve the FV701 error, follow these steps:
  
  
  Access Lockbox Customizing:
  
  Go to the SAP Easy Access screen.
  Navigate to the following path: SPRO -> Financial Accounting -> Accounts Receivable -> Payment Processing -> Lockbox -> Define House Banks.
  
  
  
  Maintain House Bank and Account ID:
  
  Ensure that the house bank is defined correctly.
  Check that the account ID associated with the house bank is also maintained.
  If not, create a new entry or modify the existing one to include the necessary details.
  
  
  
  Check for Existing Entries:
  
  Verify if there are existing entries for the house bank and account ID in the Lockbox settings.
  If they exist, ensure they are correctly linked and active.
  
  
  
  Test the Configuration:
  
  After making the necessary changes, test the lockbox processing again to see if the error persists.
  
  
  
  Consult Documentation:
  
  If you are unsure about the configuration, refer to SAP documentation or consult with your SAP functional consultant for guidance.
  
  
  
  Related Information:
  
  Transaction Codes: You may use transaction codes like OBHB (House Bank) and OBPM1 (Payment Methods) to manage house bank settings.
  Lockbox Processing: Lockbox processing is used to automate the processing of incoming payments, typically from customers, and requires proper configuration to function correctly.
  SAP Notes: Check for any relevant SAP Notes that may provide additional insights or updates related to this error message.
  
  By ensuring that the house bank and account ID are properly maintained in the Lockbox Customizing settings, you should be able to resolve the FV701 error and proceed with your lockbox processing.