How To Fix HRPAY99LOAN071 - Condition &1 requires individual reference interest rate for loan &2 &3

HRPAY99LOAN071 - Overview

• Message type: E = Error

• Message class: HRPAY99LOAN - International Payroll: Company Loans

• Message number: 071

• Message text: Condition &1 requires individual reference interest rate for loan &2 &3

What causes this issue?

The loan condition stipulates the calculation of the imputed income for
the interest. However, the individual reference interest rate is not
given.

System Response

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

How to fix this error?

In the 'Individual Reference Interest Rate' field, enter the reference
interest rate to be considered in payroll for the loan.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

HRPAY99LOAN071 - Details

• The SAP error message HRPAY99LOAN071 indicates that there is an issue with the configuration of loan processing in the SAP HR module, specifically related to the interest rate for a loan. The message states that a condition (likely related to the loan) requires an individual reference interest rate for a specific loan.
  
  Cause:
  
  Missing Interest Rate Configuration: The error typically arises when the system expects an individual reference interest rate for a loan but cannot find it in the configuration.
  Incorrect Loan Type: The loan type may not be set up correctly to reference the required interest rate.
  Data Entry Issues: There may be missing or incorrect data entries in the loan master data or related infotypes.
  
  
  Solution:
  
  
  Check Loan Configuration:
  
  Navigate to the configuration settings for loans in the SAP system (usually found in the IMG under Payroll or Personnel Administration).
  Ensure that the interest rate conditions are correctly defined for the loan type in question.
  
  
  
  Define Reference