How To Fix FZ016 - & & is not defined for company code &; correct

SAP Error Message - Details

• Message type: E = Error

• Message class: FZ - Payment Transactions

• Message number: 016

• Message text: & & is not defined for company code &; correct

What causes this issue?

Keys &V1& and &V2& for the account at the house bank are not defined in
company code &V3&.

System Response

The entry is rejected.

How to fix this error?

Enter valid keys for the house bank and the account at the house bank.
<ZH>Procedure for the system administrator</>
If the specified key combination is missing in the list of your own
bank accounts, create a corresponding entry. <DS:TRAN.FI12>Proceed</>.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FZ016 - & & is not defined for company code &; correct ?

  The SAP error message FZ016 typically indicates that a specific configuration or definition is missing for a company code in the context of financial transactions. The message format usually looks like this: "FZ016 & & is not defined for company code &; correct?" This error often arises in the context of financial document processing, particularly when dealing with payment transactions or other financial postings.
  Cause:
  
  Missing Configuration: The error usually occurs when a required configuration for a specific financial transaction (like a payment method, payment type, or other financial settings) is not defined for the specified company code.
  Incorrect Settings: There may be incorrect or incomplete settings in the financial configuration for the company code.
  Master Data Issues: The relevant master data (like vendor or customer master records) may not be properly set up for the company code in question.
  
  Solution:
  
  
  Check Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to the relevant section for Financial Accounting (FI) and check the configuration for the payment method or transaction type that is causing the error.
  Ensure that the payment method is defined for the specific company code.
  
  
  
  Define Payment Method:
  
  If the payment method is missing, you can define it by going to:
  
  SPRO > Financial Accounting > Accounts Receivable and Accounts Payable > Payment Transactions > Define Payment Methods for Country.
  
  
  Ensure that the payment method is assigned to the correct company code.
  
  
  
  Check Master Data:
  
  Verify that the vendor or customer master data is correctly set up for the company code.
  Ensure that the relevant payment terms and methods are assigned to the master records.
  
  
  
  Review Transaction Settings:
  
  If the error occurs during a specific transaction, review the settings for that transaction to ensure all required fields and configurations are correctly set.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on the configuration settings related to the error.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like OBPM1 (for payment methods) or FK01/FK02 (for vendor master data) to check and update configurations.
  SAP Notes: Check for any relevant SAP Notes that might address this specific error or provide additional troubleshooting steps.
  User Authorizations: Ensure that you have the necessary authorizations to make changes to the configuration settings.
  
  If the issue persists after checking these areas, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in Financial Accounting.