How To Fix FARR_FOUNDATION058 - You are about to exclude 2nd and 3rd local currencies from rev. act.

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_FOUNDATION - Revenue Accounting - Foundation

• Message number: 058

• Message text: You are about to exclude 2nd and 3rd local currencies from rev. act.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_FOUNDATION058 - You are about to exclude 2nd and 3rd local currencies from rev. act. ?

  The SAP error message FARR_FOUNDATION058 typically occurs in the context of the Asset Accounting (FI-AA) module, particularly when dealing with the configuration of local currencies in the context of revenue accounting. This message indicates that you are attempting to exclude the 2nd and 3rd local currencies from revenue accounting activities, which may not be allowed or could lead to inconsistencies in financial reporting.
  Cause:
  
  Configuration Settings: The system is configured in such a way that it does not allow the exclusion of 2nd and 3rd local currencies from revenue accounting. This could be due to specific settings in the asset accounting configuration.
  Data Integrity: Excluding these currencies may lead to data integrity issues, especially if transactions have already been recorded in those currencies.
  Business Rules: Your organization may have business rules that require all local currencies to be included in revenue accounting for compliance or reporting purposes.
  
  Solution:
  
  Review Configuration: Check the configuration settings in the Asset Accounting module to see if there are options to allow or disallow the exclusion of local currencies. You may need to consult with your SAP FI-AA configuration team.
  Consult Documentation: Refer to SAP documentation or notes related to the error message for specific guidance on how to handle local currencies in revenue accounting.
  Adjust Business Processes: If excluding the currencies is not feasible, consider adjusting your business processes to accommodate the inclusion of all local currencies in revenue accounting.
  Seek SAP Support: If the issue persists and you cannot find a resolution, consider reaching out to SAP support for assistance. They may provide insights or patches that address the issue.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OADB (for Asset Accounting configuration) and OX15 (for currency settings).
  SAP Notes: Search for SAP Notes related to FARR_FOUNDATION058 for any known issues or updates.
  Testing: Before making changes, ensure to test in a development or quality assurance environment to avoid impacting production data.
  
  By addressing the configuration and understanding the implications of excluding local currencies, you can resolve the error and ensure compliance with your organization's financial reporting requirements.