How To Fix 67708 - Local currency amount and rate of exchange reset

SAP Error Message - Details

• Message type: E = Error

• Message class: 67 - Loans Messages - Financial Assets Management

• Message number: 708

• Message text: Local currency amount and rate of exchange reset

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 67708 - Local currency amount and rate of exchange reset ?

  The SAP error message 67708, which states "Local currency amount and rate of exchange reset," typically occurs in the context of financial transactions, particularly when dealing with foreign currency transactions. This error indicates that there is a discrepancy or issue with the local currency amount or the exchange rate used in a transaction.
  Causes:
  
  Currency Conversion Issues: The error may arise if the system is unable to convert the foreign currency amount to the local currency due to missing or incorrect exchange rates.
  Incorrect Configuration: The configuration settings for currency types or exchange rate types may not be set up correctly in the system.
  Posting Period Issues: If the posting period is closed or not open for the transaction date, it may lead to this error.
  Data Entry Errors: Manual entry errors in the transaction data, such as incorrect amounts or currency codes, can trigger this message.
  Currency Type Mismatch: The currency type used in the transaction may not match the expected currency type in the configuration.
  
  Solutions:
  
  Check Exchange Rates: Ensure that the exchange rates are correctly maintained in the system. You can do this by navigating to the transaction code OB08 (Maintain Exchange Rates) and verifying that the rates for the relevant currencies are present and accurate.
  Review Configuration: Check the configuration settings for currency types and ensure that they are set up correctly. This can be done in the configuration menu under Financial Accounting (FI) settings.
  Open Posting Periods: Verify that the posting period for the transaction date is open. You can check this in the transaction code OB52 (Open and Close Posting Periods).
  Validate Transaction Data: Review the transaction data for any manual entry errors. Ensure that the amounts and currency codes are correct.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance related to the error message and its context.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (for exchange rates), OB52 (for posting periods), and FB50 (for general ledger postings).
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message. SAP Notes can provide additional insights or solutions.
  User Roles and Authorizations: Ensure that the user has the necessary authorizations to perform currency-related transactions.
  
  If the issue persists after checking these areas, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in financial accounting within SAP.