How To Fix T1061 - No interest condition type assigned to the transaction type

T1061 - Overview

• Message type: E = Error

• Message class: T1 - Financial instruments

• Message number: 061

• Message text: No interest condition type assigned to the transaction type

What causes this issue?

No interest rate conditions were assigned
to the transaction type during customizing.

How to fix this error?

Contact your customizing administrator.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message T1061 - No interest condition type assigned to the transaction type ?

  The SAP error message T1061, "No interest condition type assigned to the transaction type," typically occurs in the context of financial transactions, particularly when dealing with interest calculations in the SAP system. This error indicates that the system cannot find a relevant interest condition type associated with the transaction type being processed.
  
  Cause:
  
  Missing Configuration: The primary cause of this error is that the transaction type being used does not have an interest condition type assigned to it in the configuration settings.
  Incorrect Transaction Type: The transaction type being used may not be appropriate for the operation being performed, leading to the absence of a corresponding interest condition type.
  Custom Development: If there are custom developments or modifications in the system, they may not have been properly configured to handle interest calculations.
  
  
  Solution:
  To resolve the T1061 error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (New) >