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

SAP Error Message - Details

• 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.

Smart SAP Assistant

• What is the cause and solution for SAP error message HRPAY99LOAN071 - Condition &1 requires individual reference interest rate for loan &2 &3 ?

  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 Interest Rate:
  
  If the loan requires an individual reference interest rate, ensure that this rate is defined in the system. This can typically be done in the transaction codes related to loan management or through the configuration settings.
  
  
  
  Review Loan Master Data:
  
  Check the master data for the specific loan (e.g., using transaction code PA30) to ensure that all required fields are filled out correctly, including the interest rate fields.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to loan processing to ensure that all necessary configurations are in place.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test to ensure that the error no longer occurs when processing the loan.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as PA30 (Maintain HR Master Data), and possibly others related to payroll and loan management.
  SAP Notes: Check for any SAP Notes that may address this specific error or provide additional guidance on loan configuration.
  User Roles: Ensure that the user has the appropriate roles and authorizations to make changes to loan configurations and master data.
  
  If the issue persists after following these steps, it may be beneficial to consult with an SAP HR consultant or your internal SAP support team for further assistance.