How To Fix TU261 - Cannot create payment schema for CA &1 because you entered coll. acct.

TU261 - Overview

• Message type: E = Error

• Message class: TU - Billing/Scheduling/Budget Billing

• Message number: 261

• Message text: Cannot create payment schema for CA &1 because you entered coll. acct.

What causes this issue?

Cannot create a payment schema for contract account &V1&, because you
have entered a collective bill account in the contract account.
Payment schemas are only possible for contract accounts with budget
billing procedure 04 (payment schema). They must not be linked to a
collective bill account.

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?

Remove the link to the collective bill account.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

TU261 - Details

• The SAP error message TU261 indicates that there is an issue with creating a payment schema for a specific company code (CA &1) due to the entry of a collection account. This error typically arises in the context of payment processing, particularly when dealing with accounts receivable or accounts payable.
  
  Cause:
  The error can occur due to several reasons:
  
  Incorrect Configuration: The payment schema may not be properly configured for the specified company code. This could be due to missing or incorrect settings in the payment configuration.
  Collection Account Issues: If a collection account is specified, it may not be compatible with the payment schema being used. This could be due to the account type or other settings that do not align with the requirements of the payment schema.
  Missing Master Data: The necessary master data for the payment process (such as vendor or customer master records) may be incomplete or incorrectly set up.
  Authorization Issues: