Hello Samarth,
Please check i think the related entry is missing in F8BF t code. Please check did you maintain the suitable entry with house bank, payment method, currecny, account id, bank sub gl account for that co.code. If it is missed so please maintain the same.
You can find the same settings in T042Y table also.
I have tested this and it is working fine to me
I hope it will work for your also.
Thanks & Regards,
Lakshmi S