How To Fix T1247 - Inconsistent default settings of reference interest data for &1 and &2

SAP Error Message - Details

• Message type: E = Error

• Message class: T1 - Financial instruments

• Message number: 247

• Message text: Inconsistent default settings of reference interest data for &1 and &2

What causes this issue?

The settings for the reference interest rate used do not match each
other.

System Response

This can result in unexpected dates for the interest rate fixing and/or
the interest rate adjustment.

How to fix this error?

Check the presettings for the reference interest rate in Customizing.
For a negative number of days for the fixing period, you have to enter
the shift rule 'Previous working day' or 'Previous working day
modified', and for a positive number of days, enter the shift rule
'Following working day' or 'Following working day modified'. For 0 days
for the fixing period, you have to set the 'No shift' rule.
If a positive or negative number of days is set for the fixing period
you have to maintain a calendar.
You can, however, also maintain the settings later in the interest rate
adjustment detail screen.

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message T1247 - Inconsistent default settings of reference interest data for &1 and &2 ?

  The SAP error message T1247, which states "Inconsistent default settings of reference interest data for &1 and &2," typically occurs in the context of financial applications, particularly when dealing with interest calculations or settings in the SAP system. This error indicates that there is a mismatch or inconsistency in the default settings for reference interest data between two entities or configurations.
  Cause:
  
  
  Inconsistent Configuration: The most common cause of this error is that the reference interest data settings for the specified entities (e.g., company codes, business areas, or other organizational units) are not aligned. This could happen if one entity has a different configuration than the other.
  
  
  Missing Data: There may be missing or incomplete data in the configuration settings for one of the entities involved.
  
  
  Changes in Settings: If changes were made to the interest settings for one entity without corresponding changes to the other, this could lead to inconsistencies.
  
  
  Solution:
  To resolve the T1247 error, you can follow these steps:
  
  
  Check Configuration Settings:
  
  Go to the relevant configuration settings in the SAP system (usually found in the Financial Accounting or Treasury modules).
  Compare the reference interest data settings for the two entities mentioned in the error message. Ensure that they are consistent.
  
  
  
  Update Inconsistent Settings:
  
  If you find discrepancies, update the settings for one of the entities to match the other. This may involve adjusting interest rates, calculation methods, or other related parameters.
  
  
  
  Review Master Data:
  
  Check the master data associated with the entities to ensure that all necessary information is complete and accurate.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on the configuration of reference interest data.
  
  
  
  Testing:
  
  After making changes, perform tests to ensure that the error no longer occurs and that the interest calculations are functioning as expected.
  
  
  
  Seek Support:
  
  If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting with SAP experts who can provide further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes that may help you navigate to the configuration settings, such as SPRO (SAP Project Reference Object) for configuration.
  SAP Notes: Check for any SAP Notes related to T1247 or reference interest data that may provide additional insights or patches.
  Documentation: Review the SAP Help Portal for detailed documentation on financial settings and interest calculations.
  
  By following these steps, you should be able to identify and resolve the inconsistency causing the T1247 error in your SAP system.