You cannot release an incoming check, the system gives an error message: Credit payment balance not yet assigned to accounts; Save failed.
Reproducing the Issue
- Go to the Payment Management work center, and select New Incoming Check under Common Tasks.
- Enter the necessary information such as Company, Payer and Check Number.
- Enter the Payment Amount XXX.
- Choose Release.
The system gives you an error message: Credit payment balance of XXX not yet assigned to accounts.
The reason why you get this error message is that you do not choose the Assign Payment On Account button before releasing the incoming check.
In order to fix the issue, follow the steps below:
- In the Open Items table, click on the Assign Payment on Account button.
- In the Customer/Supplier ID field, select the customer.
- Set the Account Type as Receivable.
- Enter the Payment Amount.
- Specify Credit or Debit, if you don't specify it, the system classifies based on the plus/minus sign of the payment amount.
- Choose OK, and then Release.
In this way, the amount is assigned on account, and the incoming check should be released and set to Ready for Deposit. Meanwhile, the payment should be showing up in the Trade Receivables account of the customer.
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