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

SAP Error Message - Details

• 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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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 need to create one. This can typically be done in the transaction code OBPM1 (for managing payment methods) or through the relevant configuration path in the SAP menu.
  Ensure that the compensation list includes all necessary bank areas and their corresponding currencies.
  
  
  
  Review Currency Settings:
  
  Check the currency settings for the company code and ensure that they are consistent with the bank areas being used.
  Make sure that the currency conversion settings are correctly configured if applicable.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific steps on how to create or manage compensation lists in your version of SAP.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OBPM1 (Payment Methods) and OBY6 (for bank area settings).
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles: Ensure that you have the necessary authorizations to make changes to bank accounting settings.
  Consulting SAP Support: If the issue persists after following the above steps, consider reaching out to SAP support for further assistance.
  
  By addressing the configuration and ensuring that the necessary compensation lists are in place, you should be able to resolve the error message 1B029 effectively.