How To Fix FC453 - Exchange rate type M must be used for valuation view &

SAP Error Message - Details

• Message type: E = Error

• Message class: FC - FI configuration error messages

• Message number: 453

• Message text: Exchange rate type M must be used for valuation view &

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FC453 - Exchange rate type M must be used for valuation view & ?

  The SAP error message FC453 indicates that there is an issue with the exchange rate type being used in a valuation view. Specifically, it states that the exchange rate type "M" (which typically stands for "Average Rate") must be used for the valuation view in question.
  Cause:
  The error occurs when the system is trying to perform a valuation (for example, in foreign currency valuation) and the exchange rate type specified in the configuration or transaction does not match the required exchange rate type "M". This can happen due to:
  
  Incorrect Configuration: The valuation view may be configured to use a different exchange rate type.
  Transaction Settings: The transaction being executed may have been set up with an incorrect exchange rate type.
  Master Data Issues: The master data for the relevant financial documents may not be aligned with the expected exchange rate type.
  
  Solution:
  To resolve the error FC453, you can take the following steps:
  
  
  Check Valuation View Configuration:
  
  Go to the configuration settings for the valuation view in question.
  Ensure that the exchange rate type is set to "M". This can typically be found in the configuration for foreign currency valuation in the Financial Accounting (FI) module.
  
  
  
  Review Transaction Settings:
  
  If you are executing a specific transaction (like a foreign currency valuation run), check the settings to ensure that the exchange rate type is set to "M".
  You can do this by navigating to the transaction and reviewing the parameters or settings.
  
  
  
  Adjust Master Data:
  
  If the error is related to specific financial documents, check the master data associated with those documents to ensure that they are using the correct exchange rate type.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for additional context on the valuation view and exchange rate types.
  
  
  
  Testing:
  
  After making the necessary adjustments, perform a test run of the transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  
  Exchange Rate Types: In SAP, exchange rate types are used to define how currency conversions are handled. The most common types include:
  
  M: Average Rate
  G: Historical Rate
  B: Bank Buying Rate
  S: Bank Selling Rate
  
  
  
  Foreign Currency Valuation: This process is essential for companies dealing with multiple currencies, as it ensures that financial statements reflect the correct values based on current exchange rates.
  
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  OB08: Maintain Exchange Rates
  FAGL_FC_VAL: Foreign Currency Valuation
  
  
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a consultant who specializes in SAP Financial Accounting.