SAP Message TU260 - Cannot create payment schema for contract acct &1: no cash accounting

Diagnosis Cannot create a payment schema for contract account &V1&, because youdid not enter 01 (CashAccounting) in the Tax determination procedure field. Payment schemas can only be created for contract accounts with budgetbilling procedure 04 (payment schema) and tax determination procedure01. Procedure Enter Cash Accounting as the tax determination procedure.