How To Fix T1023 - Premium amount and currency adjusted

SAP Error Message - Details

• Message type: E = Error

• Message class: T1 - Financial instruments

• Message number: 023

• Message text: Premium amount and currency adjusted

What causes this issue?

The details on the premium and the nominal amount were not consistent.

System Response

The system makes an adjustment.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message T1023 - Premium amount and currency adjusted ?

  The SAP error message T1023, which states "Premium amount and currency adjusted," typically occurs in the context of insurance or financial transactions within the SAP system. This error is often related to discrepancies between the premium amount and the currency settings in the system.
  Cause:
  
  Currency Mismatch: The premium amount may be specified in a different currency than what is configured in the system for the transaction.
  Incorrect Configuration: The settings for currency conversion or premium calculation may not be correctly configured in the system.
  Data Entry Errors: Manual entry errors when inputting premium amounts or currency codes can lead to this error.
  Inconsistent Data: The premium amount may not align with the expected values based on the policy or contract details.
  
  Solution:
  
  Check Currency Settings: Verify that the currency used for the premium amount matches the currency settings in the relevant transaction or contract.
  Review Configuration: Ensure that the configuration for premium calculations and currency conversions is set up correctly in the system.
  Correct Data Entry: Double-check the entries made for the premium amount and currency to ensure they are accurate and consistent.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidelines on handling premium amounts and currency adjustments.
  Transaction Logs: Review transaction logs or error logs to identify any additional details that may help in diagnosing the issue.
  Contact Support: If the issue persists, consider reaching out to SAP support or your internal IT team for further assistance.
  
  Related Information:
  
  SAP Modules: This error is often encountered in modules related to Financial Services (FS), such as SAP Insurance or SAP Financial Accounting (FI).
  Transaction Codes: Familiarize yourself with relevant transaction codes that may be involved in processing premiums, such as those for policy management or financial postings.
  User Roles: Ensure that users have the appropriate roles and permissions to access and modify premium-related transactions.
  
  By addressing the underlying causes and following the suggested solutions, you should be able to resolve the T1023 error in SAP.