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