How To Fix 1B029 - Error: No compensation list for bank areas with different currencies

1B029 - Overview

• Message type: E = Error

• Message class: 1B - BKK: General Texts

• Message number: 029

• Message text: Error: No compensation list for bank areas with different currencies

Self-Explanatory Message

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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.

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Smart SAP Assistant

• What is the cause and solution for SAP error message 1B029 - Error: No compensation list for bank areas with different currencies ?

  The SAP error message 1B029 indicates that there is no compensation list for bank areas that have different currencies. This typically occurs in the context of financial transactions or bank accounting where the system expects a compensation list to handle transactions involving multiple currencies.
  
  Cause:
  
  Different Currencies: The error arises when there are bank areas configured with different currencies, and the system cannot find a corresponding compensation list to manage these transactions.
  
  Configuration Issues: There may be a lack of proper configuration in the bank accounting settings, particularly regarding the handling of multiple currencies.
  Missing Compensation List: The compensation list that should facilitate the transactions between the different currencies is either not created or not properly assigned.
  
  
  Solution:
  
  
  Check Bank Area Configuration:
  
  Go to the configuration settings for bank accounting in SAP.
  Ensure that the bank areas involved are correctly set up to handle transactions in different currencies.
  
  
  
  Create/Update Compensation List:
  
  If a compensation list does not exist, you may