How To Fix FVD_CNCL062 - Contract &1 to be discharged contains activated or posted payoffs

FVD_CNCL062 - Overview

• Message type: E = Error

• Message class: FVD_CNCL - Cancel Loan / Credit Life Insurance

• Message number: 062

• Message text: Contract &1 to be discharged contains activated or posted payoffs

What causes this issue?

You are trying to rescind a contract that replaced another contract.

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

How to fix this error?

First, reverse the payoff for the discharged contract. Post the
resulting overpayment to the replacement contract.
After you have done this, execute the rescission.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_CNCL062 - Contract &1 to be discharged contains activated or posted payoffs ?

  The SAP error message FVD_CNCL062 indicates that a contract (identified by &1) cannot be discharged because it contains activated or posted payoffs. This typically occurs in the context of financial contracts or leasing agreements managed within the SAP system, particularly in the Financial Services (FS) module.
  
  Cause:
  The error arises when you attempt to discharge (or close) a contract that has associated payoffs that have already been activated or posted. Payoffs are typically payments made against the contract, and if they are in an active or posted state, the system prevents the discharge to maintain data integrity and ensure that all financial transactions related to the contract are properly accounted for.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Payoff Status: Review the contract to identify any payoffs that are activated or posted. You can do this by navigating to the contract details in the SAP system and checking the associated transactions.
  
  
  Reverse