Unable to create Contract account
I am unable to create contract account. I am getting the error message as "Key selection not defined for application R company code List of budget billing proceuders(R301)"
How to go further?
Did you go to the path I indicated? In there, for each company code, you need to maintain which budget billing procedures you allow.
0 means no BB procedure.
"If you enter 1 (statistical procedure), budget billing requests are managed as statistical items in the Contract Accounts Receivable and Payable (FI-CA) component and do not affect the general ledger.
If you enter 2 (debit entry procedure), budget billing requests are posted as partial bills.
If you enter 3 (payment plan procedure), the budget billing amount is requested as the new bill amount instead of the bill amount determined by billing and invoicing. The difference between the actual bill amount and the payment plan amount is managed in a special item. This procedure is used for monthly billing.
If you enter 4 (payment scheme procedure), the bill amount is integrated into the budget billing plan. The bill can no longer be paid separately. The budget billing requests are posted as statistical items in the same way to the installment plan.
If you enter 5 (down payment request plan), a special payment plan is created for industry customers. This plan is suitable for industry customers with monthly periods as the down payment plan for the month after next. To use this procedure, establish the settings in Customizing."
After that, you need to maintain all the activities related to the BB procedures you want to use, in SAP Utilities / Invoicing / Budget Billing Plan. Check all activities and see what you need to customize.