How To Fix T1001 - Financial product &1 with no. &2 already exists

T1001 - Overview

• Message type: E = Error

• Message class: T1 - Financial instruments

• Message number: 001

• Message text: Financial product &1 with no. &2 already exists

What causes this issue?

A financial product with the number selected by you already exists in
the database.

System Response

The system prevents a financial product from being entered more than
once with the same number.

How to fix this error?

Enter a different financial product number or select the change,
display, or delete function to continue editing.

Error message extract from SAP system. Copyright SAP SE.

T1001 - Details

• The SAP error message T1001, which states "Financial product &1 with no. &2 already exists," typically occurs in the context of financial product management within SAP systems, particularly in modules related to financial services or treasury management. This error indicates that there is an attempt to create or register a financial product (like a loan, investment, or insurance product) that already exists in the system with the same identifier.
  
  Cause:
  
  Duplicate Entry: The most common cause of this error is that a financial product with the same identifier (number) already exists in the database.
  Data Migration Issues: If data has been migrated from another system, there may be duplicate entries that were not properly handled.
  User Error: A user may be trying to create a new financial product without realizing that it has already been created.
  
  
  Solution:
  
  
  Check Existing Products: Before creating a new financial product, check the existing products in the system to ensure that