How To Fix 1K701 - Currency &1 in Bank Area &2 : Account &3 not a participating currency

SAP Error Message - Details

• Message type: E = Error

• Message class: 1K - BCA: Account Type

• Message number: 701

• Message text: Currency &1 in Bank Area &2 : Account &3 not a participating currency

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message 1K701 - Currency &1 in Bank Area &2 : Account &3 not a participating currency ?

  The SAP error message 1K701 indicates that there is an issue with the currency configuration in the context of a bank area and an account. Specifically, it means that the currency being used for a particular account is not recognized as a participating currency in the specified bank area.
  Cause:
  
  Currency Configuration: The currency assigned to the bank account is not set up as a participating currency in the bank area configuration.
  Bank Area Settings: The bank area may not have the necessary currencies defined for transactions.
  Account Settings: The specific account may not be configured to accept the currency in question.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Bank Area Configuration:
  
  Go to the configuration settings for the bank area in SAP.
  Ensure that the currency in question is included in the list of participating currencies for that bank area.
  
  
  
  Update Account Settings:
  
  Navigate to the account settings for the specific account mentioned in the error message.
  Verify that the account is set up to accept the currency being used.
  
  
  
  Add Currency to Bank Area:
  
  If the currency is not listed as a participating currency, you may need to add it.
  This can typically be done in the SAP configuration under the relevant financial settings.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP administrator for specific steps on how to modify bank area and account settings.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes such as OBY6 (for bank area configuration) or FS00 (for account settings) to access the relevant configuration screens.
  SAP Notes: Check for any relevant SAP Notes that may provide additional guidance or patches related to this error.
  User Roles: Ensure that you have the necessary permissions to make changes to bank area and account configurations.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in financial accounting within SAP.