How To Fix T7007 - Transaction type & only defined for rollover/premature settlement

SAP Error Message - Details

• Message type: E = Error

• Message class: T7 - Forex entry

• Message number: 007

• Message text: Transaction type & only defined for rollover/premature settlement

What causes this issue?

A new transaction cannot be entered with the transaction type you have
chosen as it should only be used for rollover / premature settlement of
existing foreign exchange transactions.

System Response

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

How to fix this error?

Choose another transaction type.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message T7007 - Transaction type & only defined for rollover/premature settlement ?

  The SAP error message T7007 indicates that a specific transaction type is only defined for rollover or premature settlement. This error typically occurs in the context of financial transactions, particularly in the area of treasury management or investment management, where certain transaction types are restricted to specific operations.
  Cause:
  The error arises when you attempt to execute a transaction that is not allowed for the specified transaction type. This can happen due to:
  
  Incorrect Transaction Type: The transaction type you are trying to use is not configured for the operation you are performing (e.g., it may only be valid for rollover or premature settlement).
  Configuration Issues: The transaction type may not be properly set up in the system, or the settings may not align with the intended use.
  Business Process Misalignment: The business process you are trying to execute does not match the allowed operations for that transaction type.
  
  Solution:
  To resolve the T7007 error, you can take the following steps:
  
  
  Check Transaction Type Configuration:
  
  Go to the configuration settings for the transaction type in SAP (usually found in the customizing settings under Financials or Treasury).
  Verify that the transaction type is correctly defined and that it is allowed for the operation you are trying to perform.
  
  
  
  Use the Correct Transaction Type:
  
  If the transaction type you are using is not appropriate for the operation, switch to a transaction type that is valid for the action you want to perform (e.g., if you are trying to settle a transaction, ensure you are using a settlement transaction type).
  
  
  
  Consult Documentation:
  
  Review the SAP documentation or help files related to the specific transaction type and its allowed operations to ensure you are following the correct procedures.
  
  
  
  Check User Authorizations:
  
  Ensure that you have the necessary authorizations to perform the transaction with the specified transaction type.
  
  
  
  Contact SAP Support:
  
  If you are unable to resolve the issue through configuration or process adjustments, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  Transaction Types: In SAP, transaction types are used to categorize financial transactions and define their behavior. Each transaction type has specific settings that determine how it can be used.
  Rollover and Premature Settlement: These terms refer to specific financial operations. Rollover typically involves extending the maturity of a financial instrument, while premature settlement refers to settling a financial instrument before its maturity date.
  SAP Notes: Check for any relevant SAP Notes that may address this error or provide additional guidance on transaction type configurations.
  
  By following these steps, you should be able to identify the cause of the T7007 error and implement a solution to resolve it.