How To Fix FC342 - You are not allowed to delete a parallel local currency

FC342 - Overview

• Message type: E = Error

• Message class: FC - FI configuration error messages

• Message number: 342

• Message text: You are not allowed to delete a parallel local currency

What causes this issue?

You are not allowed to delete the entry for a parallel local currency
in company code &V1& since the company code has been flagged as
"productive" and documents have already been posted. Deleting the entry
may mean that open items can no longer be cleared.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FC342 - You are not allowed to delete a parallel local currency ?

  The SAP error message FC342, "You are not allowed to delete a parallel local currency," typically occurs when a user attempts to delete a parallel currency configuration in the financial accounting module. This error is related to the settings in the company code or controlling area where parallel currencies are defined.
  
  Cause:
  
  Configuration Restrictions: The system is designed to prevent the deletion of parallel local currencies that are actively used in financial transactions. This is a safeguard to maintain data integrity and ensure that financial reporting remains accurate.
  Active Transactions: If there are existing transactions or postings that reference the parallel currency, the system will not allow deletion.
  User Authorizations: The user may not have the necessary authorizations to perform the deletion of the currency configuration.
  
  
  Solution:
  
  Check Active Transactions: Before attempting to delete a parallel currency, ensure that there are no active transactions or postings that reference that currency. You can check transaction history or