How To Fix PFM_12FI_AP034 - Bank selected does not have enough balance for payment

SAP Error Message - Details

• Message type: E = Error

• Message class: PFM_12FI_AP - Message class for FI: payment authorization

• Message number: 034

• Message text: Bank selected does not have enough balance for payment

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message PFM_12FI_AP034 - Bank selected does not have enough balance for payment ?

  The SAP error message PFM_12FI_AP034 indicates that the bank account selected for a payment does not have sufficient funds to cover the payment amount. This error typically arises in the context of financial transactions, particularly when processing payments to vendors or suppliers.
  Cause:
  
  Insufficient Balance: The primary cause of this error is that the bank account you are trying to use for the payment does not have enough available balance to cover the payment amount.
  Incorrect Bank Account: The wrong bank account may have been selected for the payment.
  Payment Amount: The payment amount may exceed the available balance in the selected bank account.
  Currency Issues: If the payment involves currency conversion, fluctuations in exchange rates may affect the available balance.
  Pending Transactions: There may be pending transactions that have not yet been accounted for, which could reduce the available balance.
  
  Solution:
  
  Check Bank Balance: Verify the balance of the selected bank account to ensure it has enough funds to cover the payment.
  Select Correct Bank Account: Ensure that the correct bank account is selected for the payment. If necessary, switch to a different account with sufficient funds.
  Adjust Payment Amount: If possible, reduce the payment amount to match the available balance in the bank account.
  Review Pending Transactions: Check for any pending transactions that may affect the available balance and ensure they are accounted for.
  Currency Conversion: If applicable, check the currency conversion rates and ensure that the payment amount is correctly calculated in the bank account's currency.
  Consult with Finance Team: If you are unsure about the balance or the transactions, consult with your finance or accounting team for assistance.
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like F110 (Automatic Payment Transactions) or F-53 (Post Outgoing Payments) to process payments.
  Bank Account Configuration: Ensure that the bank account is properly configured in SAP, including settings for payment methods and currencies.
  SAP Notes: Check for any relevant SAP Notes or documentation that may provide additional insights or updates related to this error message.
  User Permissions: Ensure that you have the necessary permissions to access the bank account and perform payment transactions.
  
  By following these steps, you should be able to resolve the error and successfully process the payment.