How To Fix BP414 - No update in foreign currency planned for controlling area &1

BP414 - Overview

• Message type: E = Error

• Message class: BP - Budgeting and planning

• Message number: 414

• Message text: No update in foreign currency planned for controlling area &1

What causes this issue?

In budget profile &V2& assigned to the object to be processed,
"user-selected currency" or "object currency" was chosen as budgeting
currency.
This means that budget values can be entered in currencies deviating
from the controlling area currency.
In controlling area &V1&, however, you have not set the control
indicator "All currencies" for all fiscal years that can be budgeted
due to the budget profile settings.
In the case of budgeting of overall values, the indicator must be set
for the year of the value date maintained in the budget profile.

System Response

No budget values can be entered.

How to fix this error?

Set the control indicator "All currencies" in controlling area &V1& for
all fiscal years.

Error message extract from SAP system. Copyright SAP SE.

BP414 - Details

• The SAP error message BP414 ("No update in foreign currency planned for controlling area &1") typically occurs in the context of planning and budgeting in SAP, particularly when dealing with controlling (CO) and financial (FI) modules. This error indicates that there is an issue with the foreign currency planning for a specific controlling area.
  
  Cause:
  
  Currency Settings: The controlling area may not be set up to allow for foreign currency planning. This can happen if the controlling area is configured to only use local currency.
  Planning Version: The planning version being used may not support foreign currency planning.
  Master Data Issues: There may be issues with the master data, such as the currency settings for cost centers, internal orders, or other objects.
  Data Entry: The user may have entered data in a foreign currency without the necessary configuration to support it.
  
  
  Solution:
  
  
  Check Controlling Area Settings:
  
  Go to the configuration settings for the controlling area in transaction code