How To Fix T1024 - Nominal amount changed; check premium amount

T1024 - Overview

• Message type: E = Error

• Message class: T1 - Financial instruments

• Message number: 024

• Message text: Nominal amount changed; check premium amount

What causes this issue?

You have changed the nominal amount.

System Response

The system reminds you that a change in the premium may be
necessary.

Error message extract from SAP system. Copyright SAP SE.

T1024 - Details

• The SAP error message T1024, which states "Nominal amount changed; check premium amount," typically occurs in the context of financial transactions, particularly in insurance or financial services modules where premium calculations are involved. This error indicates that there has been a change in the nominal amount (the base amount used for calculations) that affects the premium amount, and the system is prompting the user to verify the premium amount to ensure accuracy.
  Causes:
  
  Manual Changes: A user may have manually changed the nominal amount in a transaction or master data record, which can lead to discrepancies in the calculated premium.
  Data Migration: If data was migrated from another system or updated in bulk, inconsistencies may arise if the nominal amounts and premium amounts are not aligned.
  
  Configuration Issues: Incorrect configuration in the insurance or financial module settings can lead to errors in how nominal amounts and premiums are calculated.
  Business Logic Changes: Changes in business