How To Fix CK417 - Material &1 in plant &2: key date for currency conversion not set

SAP Error Message - Details

• Message type: E = Error

• Message class: CK - Product Costing Messages

• Message number: 417

• Message text: Material &1 in plant &2: key date for currency conversion not set

What causes this issue?

The key date for conversion of material prices and values in plant &V2&
into controlling area currency is missing.
Program interfaces may not be correctly integrated.

System Response

The system uses the current date as the key date, and proceeds with the
conversion.

How to fix this error?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message CK417 - Material &1 in plant &2: key date for currency conversion not set ?

  The SAP error message CK417 indicates that there is an issue with the currency conversion key date for a specific material in a particular plant. This error typically arises in the context of material valuation and costing, particularly when dealing with different currencies in SAP.
  Cause:
  The error message CK417 occurs when the system attempts to perform a currency conversion for a material, but the key date for the currency conversion has not been set. This can happen due to several reasons:
  
  Missing Key Date: The key date for currency conversion is not defined in the system for the specified material and plant.
  Configuration Issues: There may be configuration issues in the controlling area or company code settings related to currency conversion.
  Data Inconsistencies: There might be inconsistencies in the master data for the material or plant, leading to the absence of a key date.
  
  Solution:
  To resolve the CK417 error, you can take the following steps:
  
  
  Check Material Master Data:
  
  Go to the material master record for the specified material and plant.
  Ensure that the currency conversion key date is set correctly. You can do this by navigating to the accounting view of the material master.
  
  
  
  Set Key Date for Currency Conversion:
  
  If the key date is missing, you can set it manually. This is usually done in the material master under the accounting or costing views.
  You can also use transaction code CKM3 to check the costing data and ensure that the key date is populated.
  
  
  
  Review Configuration Settings:
  
  Check the configuration settings in the controlling area and company code to ensure that currency conversion settings are correctly defined.
  Use transaction code OB08 to maintain exchange rates and ensure that the necessary rates are available for the key date.
  
  
  
  Run Costing:
  
  After ensuring that the key date is set, you may need to rerun the costing process for the material to see if the error persists.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for additional guidance on handling currency conversion issues.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  MM03 (Display Material Master)
  CKM3 (Display Material Costing)
  OB08 (Maintain Exchange Rates)
  
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  User Roles: Ensure that you have the necessary authorizations to make changes to the material master and configuration settings.
  
  By following these steps, you should be able to resolve the CK417 error and ensure that the currency conversion key date is properly set for the material in question.