How To Fix T1358 - Not possible to use both fix and var. interest in first condition

SAP Error Message - Details

• Message type: E = Error

• Message class: T1 - Financial instruments

• Message number: 358

• Message text: Not possible to use both fix and var. interest in first condition

What causes this issue?

It is not possible to use both fields <LS>Reference Interest Rate</> and
<LS>Percentage Rate</> for the first interest conditions of a deal.

System Response

The fixed rate is deleted from the first condition.

How to fix this error?

If you want to use both fixed and variable interest rates in the first
interest condition of a deal, use a formula.

Procedure for System Administrators

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 T1358 - Not possible to use both fix and var. interest in first condition ?

  The SAP error message T1358, which states "Not possible to use both fix and var. interest in first condition," typically occurs in the context of financial transactions, particularly when dealing with interest calculations in loans, deposits, or other financial instruments. This error indicates that there is a conflict in the configuration of interest types being used in a particular condition.
  Cause:
  The error arises when a financial condition is set up to use both fixed and variable interest rates simultaneously, which is not allowed in SAP. This can happen due to:
  
  Incorrect Configuration: The condition types in the pricing procedure may be incorrectly configured to allow both fixed and variable interest rates.
  Data Entry Errors: During the creation or modification of a financial transaction, the user may have inadvertently selected both interest types.
  Inconsistent Master Data: The master data for the financial instrument may have conflicting settings regarding interest types.
  
  Solution:
  To resolve the T1358 error, you can take the following steps:
  
  
  Review Condition Types:
  
  Check the pricing procedure and the condition types associated with the transaction. Ensure that only one type of interest (either fixed or variable) is being used in the relevant condition.
  
  
  
  Adjust Transaction Data:
  
  If you are entering data manually, review the entries to ensure that you are not selecting both fixed and variable interest rates for the same condition.
  
  
  
  Check Master Data:
  
  Review the master data for the financial instrument (e.g., loan, deposit) to ensure that it is configured correctly. Make sure that the interest type settings are consistent and do not conflict.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or configuration guides related to interest calculation and pricing procedures to ensure that you are following the correct setup.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the configuration and data, consider reaching out to SAP support for further assistance. They may provide insights specific to your system configuration.
  
  
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on configuring interest conditions.
  Transaction Codes: Familiarize yourself with transaction codes related to financial conditions, such as OB40 (for condition types) and V/08 (for pricing procedures).
  Training and Documentation: Ensure that users involved in financial transactions are trained on the correct procedures for entering interest rates and configuring financial conditions.
  
  By following these steps, you should be able to identify the cause of the T1358 error and implement a solution to resolve it.