How To Fix FARR_INB_MAIN031 - Cost item &1: Transaction and first local currencies must be the same

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_INB_MAIN - Messages for Inbound Processing

• Message number: 031

• Message text: Cost item &1: Transaction and first local currencies must be the same

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_INB_MAIN031 - Cost item &1: Transaction and first local currencies must be the same ?

  The SAP error message FARR_INB_MAIN031 indicates that there is a mismatch between the transaction currency and the first local currency for a cost item in the Asset Accounting module. This error typically arises during the processing of asset transactions, such as acquisitions, transfers, or retirements, where the system expects the transaction currency to match the first local currency defined for the asset.
  Cause:
  
  Currency Mismatch: The transaction is being processed in a currency that does not match the first local currency defined for the asset.
  Configuration Issues: The asset master data may have been set up incorrectly, leading to inconsistencies in currency settings.
  Data Entry Errors: Manual entry of transaction data may have led to the use of an incorrect currency.
  
  Solution:
  
  
  Check Asset Master Data:
  
  Go to the asset master record (transaction code AS03) and verify the currency settings.
  Ensure that the first local currency is correctly defined and matches the currency used in the transaction.
  
  
  
  Review Transaction Currency:
  
  When entering the transaction, ensure that the currency used matches the first local currency of the asset.
  If necessary, change the transaction currency to align with the asset's first local currency.
  
  
  
  Adjust Configuration:
  
  If the issue is systemic, review the configuration settings in the Asset Accounting module to ensure that currency settings are correctly defined.
  Check the settings in the company code and ensure that the currency settings are consistent across all relevant configurations.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for further guidance on handling currency settings in Asset Accounting.
  
  
  
  Seek Help from SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for assistance, especially if it involves complex configurations or customizations.
  
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  AS03 (Display Asset Master Record)
  AS01 (Create Asset Master Record)
  AS02 (Change Asset Master Record)
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  
  
  Documentation: Review the SAP Help Portal for detailed information on Asset Accounting and currency settings.
  
  
  By following these steps, you should be able to resolve the error and ensure that your asset transactions are processed correctly.