How To Fix FARR_CONTRACT_MAIN402 - Error while converting foreign currency &1 to local currency &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 402

• Message text: Error while converting foreign currency &1 to local currency &2

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 FARR_CONTRACT_MAIN402 - Error while converting foreign currency &1 to local currency &2 ?

  The SAP error message FARR_CONTRACT_MAIN402 typically occurs when there is an issue with converting a foreign currency amount to a local currency amount in the context of contract management or financial transactions. This error can arise due to several reasons, and understanding the cause is essential for finding a solution.
  Causes of the Error
  
  
  Missing Exchange Rate: The most common cause is that there is no exchange rate defined for the currency pair in the system for the date of the transaction.
  
  
  Invalid Currency Configuration: The currencies involved may not be properly configured in the system, or there may be inconsistencies in the currency settings.
  
  
  Date Issues: The exchange rate may not be valid for the date of the transaction. Exchange rates can change daily, and if the rate is not maintained for the specific date, the conversion will fail.
  
  
  Currency Type Issues: The error may also occur if the currency types (e.g., transaction currency, local currency) are not set up correctly in the system.
  
  
  System Configuration: There may be issues with the configuration of the financial module or the specific settings related to foreign currency transactions.
  
  
  Solutions
  
  
  Check Exchange Rates:
  
  Go to the transaction code OB08 to check if the exchange rates for the relevant currency pair are maintained.
  If not, you will need to enter the appropriate exchange rate for the date of the transaction.
  
  
  
  Verify Currency Configuration:
  
  Ensure that both the foreign currency and local currency are correctly configured in the system.
  Check the currency settings in the relevant configuration areas (e.g., Financial Accounting, Controlling).
  
  
  
  Review Transaction Date:
  
  Confirm that the transaction date falls within the range of valid exchange rates. If the date is outside the range, you may need to adjust the date or maintain the necessary exchange rates.
  
  
  
  Check Currency Types:
  
  Ensure that the currency types are correctly set up in the system. This includes checking the settings for transaction currency and local currency.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for any specific notes related to this error message. There may be additional context or updates that could be relevant.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for further assistance. They may provide insights based on the specific configuration of your system.
  
  
  
  Related Information
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), FB50 (Enter G/L Account Document), and FBL1N (Vendor Line Item Display) for troubleshooting.
  SAP Notes: Search for SAP Notes related to currency conversion issues or the specific error message for additional guidance.
  User Forums: Engage with SAP community forums or user groups where similar issues may have been discussed.
  
  By following these steps, you should be able to identify the cause of the FARR_CONTRACT_MAIN402 error and implement a suitable solution.