How To Fix FC344 - An additional local currency without data conversion can create problems

SAP Error Message - Details

• Message type: E = Error

• Message class: FC - FI configuration error messages

• Message number: 344

• Message text: An additional local currency without data conversion can create problems

What causes this issue?

An additional local currency in company code &V1& can lead to problems
during clearing in rare cases, (such as with cash discount and
backdated tax calculation), if documents have already been posted. To
avoid these problems, it is necessary to convert the open item data.
Contact SAP for this.
The introduction of an additional local currency can also lead to
problems in other applications. If so, refer to the appropriate
application documentation regarding parallel currencies.

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 FC344 - An additional local currency without data conversion can create problems ?

  The SAP error message FC344, which states "An additional local currency without data conversion can create problems," typically arises in the context of financial accounting and currency settings within the SAP system. This error indicates that there is an issue with the configuration of additional local currencies in the system, particularly when there is no data conversion defined for these currencies.
  Cause:
  
  Configuration Issues: The error often occurs when an additional local currency is defined in the system, but there is no corresponding data conversion setup. This can lead to inconsistencies in financial reporting and data integrity.
  Missing Conversion Rates: If the system is set to use an additional local currency but lacks the necessary conversion rates or settings to convert between the company code currency and the additional local currency, it can trigger this error.
  Inconsistent Currency Settings: If the currency settings in the company code or controlling area are not aligned with the additional local currency settings, it can lead to this error.
  
  Solution:
  
  
  Check Currency Configuration:
  
  Go to the transaction code OB22 (Define Additional Local Currencies) and verify the settings for the additional local currency.
  Ensure that the additional local currency is correctly defined and that the conversion settings are in place.
  
  
  
  Define Conversion Rates:
  
  Use transaction code OB08 to maintain the exchange rates for the additional local currency. Ensure that the conversion rates between the company code currency and the additional local currency are properly defined.
  
  
  
  Review Company Code Settings:
  
  Check the company code settings in transaction code OBY6 to ensure that the additional local currency is activated and configured correctly.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to currency settings and additional local currencies for any specific guidelines or best practices.
  
  
  
  Testing:
  
  After making the necessary changes, perform tests to ensure that the error no longer occurs and that financial transactions can be processed without issues.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB22: Define Additional Local Currencies
  OB08: Maintain Exchange Rates
  OBY6: Company Code Global Settings
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on currency configuration.
  
  
  User Roles: Ensure that the user making these changes has the appropriate authorizations to modify currency settings in the SAP system.
  
  
  By following these steps, you should be able to resolve the FC344 error and ensure that your SAP system handles additional local currencies correctly.