How To Fix PM016 - Compare payment currency &1 with currencies of banks in bank chain

SAP Error Message - Details

• Message type: E = Error

• Message class: PM - Extended Payment Functions

• Message number: 016

• Message text: Compare payment currency &1 with currencies of banks in bank chain

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message PM016 - Compare payment currency &1 with currencies of banks in bank chain ?

  The SAP error message PM016, which states "Compare payment currency &1 with currencies of banks in bank chain," typically occurs in the context of payment processing within the SAP system. This error indicates that there is a mismatch between the payment currency specified in the payment document and the currencies of the banks involved in the payment chain.
  Cause:
  
  Currency Mismatch: The payment currency (e.g., USD, EUR) does not match the currency of the bank accounts involved in the payment process. For example, if the payment is in USD but the bank account is set up to handle only EUR, this error will occur.
  Bank Chain Configuration: The bank chain may not be configured correctly, meaning that the banks in the chain do not support the currency of the payment.
  Payment Method Settings: The payment method used may not be compatible with the currency of the payment or the bank accounts.
  
  Solution:
  
  Check Payment Currency: Verify the payment currency in the payment document. Ensure that it is correct and intended for the transaction.
  Review Bank Account Currencies: Check the currencies assigned to the bank accounts in the bank chain. Ensure that at least one bank in the chain supports the payment currency.
  
  Go to the bank master data and check the currency settings for each bank account.
  
  
  Adjust Bank Chain Configuration: If necessary, modify the bank chain configuration to include banks that can handle the payment currency.
  Payment Method Configuration: Review the payment method settings in the configuration. Ensure that the payment method allows for the specified payment currency.
  Transaction Codes: Use transaction codes like FBZP (for payment methods) and FI12 (for bank master data) to review and adjust settings as needed.
  
  Related Information:
  
  Documentation: Refer to SAP documentation for detailed information on configuring payment methods and bank chains.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  FBZP - Payment method in country
  FI12 - Bank master data
  OBPM1 - Define payment methods per country
  
  
  SAP Notes: Check for any SAP Notes related to this error message for additional troubleshooting steps or patches.
  Testing: After making changes, test the payment process again to ensure that the error is resolved.
  
  By following these steps, you should be able to identify and resolve the cause of the PM016 error in SAP.