How To Fix PREPAY034 - Recovery rate too low. Recovery rate has been adjusted.

SAP Error Message - Details

• Message type: E = Error

• Message class: PREPAY - Enter a contract

• Message number: 034

• Message text: Recovery rate too low. Recovery rate has been adjusted.

Self-Explanatory Message

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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 PREPAY034 - Recovery rate too low. Recovery rate has been adjusted. ?

  The SAP error message PREPAY034 indicates that the recovery rate for a prepayment is too low, which means that the system has automatically adjusted the recovery rate to a level that is acceptable according to the defined business rules or configurations.
  Cause:
  
  Low Recovery Rate: The primary cause of this error is that the recovery rate for a prepayment is set below the minimum threshold defined in the system. This can happen due to incorrect data entry or changes in business conditions that affect the recovery rate.
  Configuration Settings: The system may have specific configuration settings that dictate the acceptable range for recovery rates. If the entered recovery rate falls outside this range, the error will be triggered.
  Business Rules: There may be business rules in place that require a certain minimum recovery rate for financial transactions, and if the prepayment does not meet these criteria, the system will adjust it.
  
  Solution:
  
  Review Recovery Rate: Check the recovery rate that has been entered for the prepayment. Ensure that it is within the acceptable range as per your organization's policies.
  Adjust Configuration: If the recovery rate needs to be adjusted, you may need to review the configuration settings in the SAP system. This may involve consulting with your SAP administrator or finance team to understand the thresholds set for recovery rates.
  Data Entry Correction: If the recovery rate was entered incorrectly, correct the data entry and reprocess the transaction.
  Consult Documentation: Review any relevant documentation or guidelines provided by your organization regarding prepayments and recovery rates to ensure compliance with internal policies.
  Testing: After making adjustments, test the transaction again to ensure that the error does not reoccur.
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like FB60 (Enter Incoming Invoice) or F-28 (Post Incoming Payments) to manage prepayments and related transactions.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on handling recovery rates.
  User Roles: Ensure that you have the appropriate permissions to make changes to financial data and configurations in SAP.
  Training: If this error is common in your organization, consider providing training to users on how to properly enter and manage prepayment recovery rates.
  
  If the issue persists after following these steps, it may be beneficial to engage with SAP support or your internal IT team for further assistance.