How To Fix >2658 - No exchange rate specification permitted for payment in house currency &1

SAP Error Message - Details

• Message type: E = Error

• Message class: >2 -

• Message number: 658

• Message text: No exchange rate specification permitted for payment in house currency &1

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message >2658 - No exchange rate specification permitted for payment in house currency &1 ?

  The SAP error message "2658 No exchange rate specification permitted for payment in house currency &1" typically occurs in the context of financial transactions, particularly when dealing with payments in a house currency (the currency used by the company for its internal transactions).
  Cause:
  This error message is triggered when the system detects that an exchange rate specification is not allowed for a payment that is being processed in the house currency. The house currency is the currency in which the company operates and records its financial transactions. The error can occur due to several reasons:
  
  Incorrect Configuration: The system may be incorrectly configured to allow exchange rate specifications for house currency transactions.
  Transaction Type: The type of transaction being processed may not support exchange rate specifications when dealing with house currency.
  Data Entry Error: There may be an error in the data entry where an exchange rate has been specified for a transaction that should not have one.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Transaction Type: Ensure that the transaction type you are using is appropriate for house currency payments. If the transaction does not require an exchange rate, make sure that none is specified.
  
  
  Review Configuration: Check the configuration settings in the SAP system related to currency handling. This may involve reviewing the settings in the Financial Accounting (FI) module to ensure that house currency transactions are set up correctly.
  
  
  Remove Exchange Rate Specification: If you are manually entering an exchange rate for a payment in house currency, remove that specification. The system should automatically recognize the house currency without needing an exchange rate.
  
  
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on handling payments in house currency and the associated configurations.
  
  
  Contact Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert who can provide more tailored assistance based on your specific system configuration.
  
  
  Related Information:
  
  House Currency: This is the currency in which a company conducts its internal transactions. It is important for financial reporting and internal accounting.
  Exchange Rate Configuration: In SAP, exchange rates are typically maintained in the system for foreign currency transactions. However, for house currency transactions, these rates should not be applied.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error message or provide additional insights into configuration settings.
  
  By following these steps, you should be able to resolve the error and proceed with your financial transactions in SAP.