How To Fix FVD_CANCRES027 - Rescission has not yet been entered for loan contract &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_CANCRES - Messages for Rescission / Withdrawal

• Message number: 027

• Message text: Rescission has not yet been entered for loan contract &1

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_CANCRES027 - Rescission has not yet been entered for loan contract &1 ?

  The SAP error message FVD_CANCRES027 indicates that a rescission (cancellation) has not yet been entered for a specific loan contract. This error typically arises in the context of financial services, particularly in loan management within the SAP system.
  Cause:
  The error occurs when a user attempts to perform an action related to a loan contract that requires a rescission to be recorded first. This could happen in scenarios such as:
  
  Attempting to cancel a loan contract without having formally rescinded it.
  Trying to process a transaction that is contingent upon the rescission being recorded.
  
  Solution:
  To resolve this error, you need to ensure that a rescission is properly entered for the loan contract in question. Here are the steps you can take:
  
  
  Check Loan Contract Status: Verify the status of the loan contract to confirm whether it is eligible for rescission.
  
  
  Enter Rescission:
  
  Navigate to the appropriate transaction in SAP for entering a rescission for the loan contract.
  Ensure that all required fields are filled out correctly.
  Save the rescission entry.
  
  
  
  Re-attempt the Action: After successfully entering the rescission, try to perform the action that triggered the error again.
  
  
  Consult Documentation: If you are unsure about the process for entering a rescission, refer to your organization's SAP documentation or user manuals for guidance.
  
  
  Contact Support: If the issue persists after entering the rescission, consider reaching out to your SAP support team or a functional consultant for further assistance.
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with the relevant transaction codes for loan management and rescission processes in SAP.
  User Roles and Permissions: Ensure that you have the necessary permissions to enter rescissions and manage loan contracts.
  SAP Notes: Check for any SAP Notes or updates related to loan management that might address known issues or provide additional guidance.
  
  By following these steps, you should be able to resolve the error and proceed with your loan management tasks in SAP.