How To Fix 1B031 - Account &1 bank area &2 is not released for currency conversion

SAP Error Message - Details

• Message type: E = Error

• Message class: 1B - BKK: General Texts

• Message number: 031

• Message text: Account &1 bank area &2 is not released for currency conversion

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message 1B031 - Account &1 bank area &2 is not released for currency conversion ?

  The SAP error message 1B031 indicates that a specific account in a particular bank area is not released for currency conversion. This error typically arises in the context of financial transactions where currency conversion is required, such as when dealing with foreign currency transactions or when performing bank reconciliations.
  Cause:
  The error can occur due to several reasons:
  
  Account Configuration: The account specified in the error message is not set up to allow currency conversion. This could be due to missing settings in the account master data.
  Bank Area Settings: The bank area associated with the account may not be configured to handle currency conversions.
  Currency Settings: The currency settings for the account or bank area may not be properly defined, leading to restrictions on currency conversion.
  Transaction Type: The type of transaction being processed may not be compatible with the currency conversion settings of the account.
  
  Solution:
  To resolve the error, you can take the following steps:
  
  
  Check Account Master Data:
  
  Go to the account master data (transaction code FS00).
  Verify that the account is set up correctly for currency conversion. Check the settings under the "Control" tab to ensure that the account is allowed for currency conversion.
  
  
  
  Review Bank Area Configuration:
  
  Use transaction code FI12 to check the bank area settings.
  Ensure that the bank area is configured to allow currency conversion. Look for any settings that might restrict currency conversion.
  
  
  
  Currency Configuration:
  
  Check the currency settings for the account and bank area. Ensure that the currencies involved in the transaction are supported and properly configured.
  
  
  
  Transaction Type:
  
  Review the type of transaction you are trying to perform. Ensure that it is compatible with the currency conversion settings of the account.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or consult with your SAP support team for specific configuration settings related to currency conversion.
  
  
  
  Testing:
  
  After making the necessary changes, test the transaction again to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FS00 (Account Master Data), FI12 (Bank Area), and OB22 (Define Account Types) for further configuration checks.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles and Authorizations: Ensure that the user performing the transaction has the necessary authorizations to access and modify account and bank area settings.
  
  By following these steps, you should be able to identify and resolve the cause of the error message 1B031 in SAP.