How To Fix E!002 - Exchange rate type & does not exist in system

SAP Error Message - Details

• Message type: E = Error

• Message class: E! -

• Message number: 002

• Message text: Exchange rate type & does not exist in system

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

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 E!002 - Exchange rate type & does not exist in system ?

  The SAP error message E!002, which states "Exchange rate type & does not exist in system," typically occurs when the system is unable to find the specified exchange rate type in the configuration. This can happen in various scenarios, such as during currency conversion, financial postings, or when executing transactions that require currency exchange rates.
  Cause:
  
  Missing Exchange Rate Type: The specified exchange rate type has not been defined in the system.
  Incorrect Configuration: The exchange rate type may have been incorrectly configured or deleted.
  Authorization Issues: The user may not have the necessary authorizations to access the exchange rate type.
  Incorrect Transaction Code: The transaction being executed may not be set up to use the specified exchange rate type.
  
  Solution:
  
  
  Check Exchange Rate Types:
  
  Go to the transaction code OB08 (Maintain Exchange Rates).
  Verify if the exchange rate type in question exists. If it does not, you may need to create it or use a different one.
  
  
  
  Create or Modify Exchange Rate Type:
  
  If the exchange rate type is missing, you can create it using the transaction code OB07 (Define Exchange Rate Types).
  Ensure that the exchange rate type is properly configured with the necessary parameters.
  
  
  
  Review Configuration:
  
  Check the configuration settings in SPRO (SAP Reference IMG) under Financial Accounting (New) > Financial Accounting Global Settings (New) > Currencies > Define Exchange Rate Types.
  Ensure that the exchange rate type is correctly defined and linked to the appropriate currencies.
  
  
  
  Check User Authorizations:
  
  Ensure that the user has the necessary authorizations to access the exchange rate type. This can be checked with the help of your SAP security team.
  
  
  
  Use Correct Transaction:
  
  Ensure that you are using the correct transaction code that is compatible with the exchange rate type you are trying to use.
  
  
  
  Related Information:
  
  Exchange Rate Types: These are used to define how currency conversions are handled in SAP. Common exchange rate types include M (average rate), B (bank buying rate), and G (bank selling rate).
  Currency Configuration: Proper configuration of currencies and exchange rates is crucial for accurate financial reporting and transactions in SAP.
  Documentation: Refer to SAP Help documentation for detailed information on configuring exchange rates and types.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any known issues related to this error message.