How To Fix FARR_CONTRACT_MAIN432 - Ex. Rate for 2nd local currency is empty on contract &1 for initial load

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 432

• Message text: Ex. Rate for 2nd local currency is empty on contract &1 for initial load

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_MAIN432 - Ex. Rate for 2nd local currency is empty on contract &1 for initial load ?

  The SAP error message FARR_CONTRACT_MAIN432 indicates that there is an issue with the exchange rate for the second local currency in a contract during an initial load process. This error typically arises in the context of financial contracts, particularly in the area of contract accounting or asset accounting.
  Cause:
  The error occurs when the system attempts to load a contract that has a second local currency defined, but there is no exchange rate available for that currency. This can happen due to several reasons:
  
  Missing Exchange Rate: The exchange rate for the second local currency has not been maintained in the system.
  Incorrect Configuration: The configuration for currency settings in the contract may not be set up correctly.
  Data Migration Issues: If this is during a data migration process, the data being loaded may not have the necessary exchange rate information.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Exchange Rate Maintenance:
  
  Go to the transaction code OB08 (Maintain Exchange Rates).
  Verify if the exchange rate for the second local currency is maintained for the relevant currency pair and date.
  If it is missing, you will need to enter the appropriate exchange rate.
  
  
  
  Review Contract Configuration:
  
  Check the contract configuration to ensure that the second local currency is correctly set up.
  Ensure that the contract is configured to use the second local currency and that it is valid for the period in question.
  
  
  
  Data Validation:
  
  If this is part of a data migration, validate the source data to ensure that it includes the necessary exchange rate information for the second local currency.
  Make sure that the data mapping is correct and that all required fields are populated.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to contract accounting and currency settings for any additional guidance or specific configurations that may be required.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test load to ensure that the error does not reoccur.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 for exchange rates, FARR for contract management, and SE11 for data dictionary checks.
  SAP Notes: Check for any SAP Notes that may address this specific error or provide additional troubleshooting steps.
  Support: If the issue persists after following the above steps, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  By following these steps, you should be able to resolve the error and successfully load the contract with the necessary currency information.