How To Fix T1021 - Currency of premium taken from nominal amount

T1021 - Overview

• Message type: E = Error

• Message class: T1 - Financial instruments

• Message number: 021

• Message text: Currency of premium taken from nominal amount

What causes this issue?

You have not entered a currency for the premium.

System Response

If you do not enter a currency, the system will automatically use the
currency of the nominal amount.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message T1021 - Currency of premium taken from nominal amount ?

  The SAP error message T1021, which states "Currency of premium taken from nominal amount," typically occurs in the context of financial transactions, particularly when dealing with insurance premiums or similar financial instruments. This error indicates that there is a mismatch or issue with the currency settings related to the premium amount and the nominal amount in the system.
  
  Cause:
  
  Currency Mismatch: The currency of the premium may not match the currency of the nominal amount. This can happen if the system is configured to handle multiple currencies and there is an inconsistency in the currency settings.
  
  Configuration Issues: There may be issues in the configuration of the financial module, particularly in the settings related to currency conversion or premium calculations.
  Data Entry Errors: Incorrect data entry during transaction processing can lead to this error, especially if the currency is not specified correctly.
  Master Data Issues: The master data for the relevant accounts or financial instruments