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

>U706 - Overview

• 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