How To Fix FVD_REPAY118 - Payoff reason &1 is not defined in the Customizing settings

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_REPAY - Messages for Payoff

• Message number: 118

• Message text: Payoff reason &1 is not defined in the Customizing settings

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_REPAY118 - Payoff reason &1 is not defined in the Customizing settings ?

  The SAP error message FVD_REPAY118 indicates that a specific payoff reason (denoted as &1) is not defined in the Customizing settings for the Financial Services module, particularly in the context of loan management or financial transactions.
  Cause:
  This error typically occurs when:
  
  A payoff reason is being used in a transaction that has not been configured in the system.
  The payoff reason might have been deleted or not properly set up in the Customizing settings.
  There may be a mismatch between the payoff reason used in the transaction and the ones defined in the system.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Customizing Settings:
  
  Navigate to the Customizing settings in SAP (Transaction code: SPRO).
  Go to the relevant path for defining payoff reasons. This is usually found under:
  
  Financial Services -> Loan Management -> Customizing -> Define Payoff Reasons.
  
  
  Verify if the payoff reason that is causing the error is listed. If it is not, you will need to create it.
  
  
  
  Create or Modify Payoff Reason:
  
  If the payoff reason is missing, you can create a new entry by clicking on "New Entries" and filling in the required details.
  If the payoff reason exists but is not configured correctly, you may need to modify it to ensure it meets the necessary criteria.
  
  
  
  Check Transaction Data:
  
  Review the transaction that triggered the error to ensure that the correct payoff reason is being used.
  If the transaction is using an incorrect or outdated payoff reason, update it to match the defined reasons in the Customizing settings.
  
  
  
  Transport Changes:
  
  If you are working in a development environment, ensure that any changes made to the Customizing settings are transported to the appropriate environments (e.g., Quality Assurance, Production).
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help files for additional guidance on configuring payoff reasons and understanding their implications in financial transactions.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as SPRO (Customizing), FVD1 (Create Loan), and FVD2 (Change Loan) to navigate through the system effectively.
  SAP Notes: Check SAP Notes for any known issues or additional guidance related to the error message FVD_REPAY118.
  User Roles: Ensure that you have the necessary authorizations to make changes in the Customizing settings.
  
  By following these steps, you should be able to resolve the error and ensure that the payoff reason is properly defined in your SAP system.