How To Fix >U706 - Company code &1 and payment method &2 are not compatible

SAP Error Message - Details

• Message type: E = Error

• Message class: >U -

• Message number: 706

• Message text: Company code &1 and payment method &2 are not compatible

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message >U706 - Company code &1 and payment method &2 are not compatible ?

  The SAP error message "U706 Company code &1 and payment method &2 are not compatible" typically indicates that there is a configuration issue between the specified company code and the payment method being used in a financial transaction. Here’s a breakdown of the cause, potential solutions, and related information:
  Cause:
  
  Configuration Mismatch: The payment method you are trying to use is not configured for the specified company code. This can happen if the payment method is not assigned to the company code in the payment method configuration settings.
  Payment Method Settings: The payment method may have specific settings that are not compatible with the company code, such as currency restrictions or specific bank accounts.
  Master Data Issues: The vendor or customer master data may not be set up correctly for the payment method in question.
  
  Solution:
  
  
  Check Payment Method Configuration:
  
  Go to the transaction code OBPM1 (for payment methods in company codes).
  Verify that the payment method is correctly configured for the specified company code.
  Ensure that the payment method is active and has the necessary settings (e.g., payment type, bank details).
  
  
  
  Assign Payment Method to Company Code:
  
  If the payment method is not assigned to the company code, you will need to assign it. This can be done in the same configuration area (OBPM1).
  Make sure to check the settings for the payment method to ensure they align with the requirements of the company code.
  
  
  
  Review Master Data:
  
  Check the vendor or customer master data to ensure that the payment method is valid for the specific vendor or customer.
  You can do this by using transaction codes XK03 (for vendor) or FD03 (for customer) to view the master data.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to payment methods and company code configurations for additional guidance.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OBPM1: Configuration for payment methods in company codes.
  XK03: Display vendor master data.
  FD03: Display customer master data.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues or bugs related to payment methods and company codes.
  
  
  User Roles and Authorizations: Ensure that the user has the necessary authorizations to make changes to payment methods and company code configurations.
  
  
  By following these steps, you should be able to resolve the compatibility issue between the company code and payment method in SAP.