How To Fix FY034 - Settlement account for receipt point & institution & not defined

FY034 - Overview

• Message type: E = Error

• Message class: FY - Payment Cards

• Message number: 034

• Message text: Settlement account for receipt point & institution & not defined

What causes this issue?

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?

Define the settlement account for the point of receipt (location) &V1&
and the payment card company &V2& in chart of accounts &V3&.
(Maintenance: Transaction SM30, View V_TCCAD)

Error message extract from SAP system. Copyright SAP SE.

FY034 - Details

• The SAP error message FY034 indicates that there is a missing configuration for the settlement account associated with a specific receipt point and institution. This error typically arises in the context of financial transactions, particularly in modules related to asset accounting or financial accounting.
  
  Cause:
  The error occurs when the system attempts to process a transaction that requires a settlement account, but the account has not been defined for the specified receipt point and institution. This can happen due to:
  
  Missing Configuration: The settlement account has not been set up in the system for the specified receipt point and institution.
  Incorrect Receipt Point: The receipt point being used in the transaction may not be correctly configured or may not exist in the system.
  Institution Not Defined: The institution associated with the transaction may not be properly defined in the system.
  
  
  Solution:
  To resolve the FY034 error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the configuration settings in