How To Fix FDC_POSTING_001162 - 'Using freely-defined currencies' does not allow cross-company postings

SAP Error Message - Details

• Message type: E = Error

• Message class: FDC_POSTING_001 - FI Postings

• Message number: 162

• Message text: 'Using freely-defined currencies' does not allow cross-company postings

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FDC_POSTING_001162 - 'Using freely-defined currencies' does not allow cross-company postings ?

  The SAP error message FDC_POSTING_001162 indicates that there is an issue with cross-company postings when using freely-defined currencies. This error typically arises in the context of financial accounting when you attempt to post transactions that involve multiple company codes, and at least one of those company codes is set up to use freely-defined currencies.
  Cause:
  
  
  Freely-Defined Currencies: The company code involved in the transaction is configured to use freely-defined currencies, which means it can use currencies that are not strictly defined by the system. This flexibility can lead to complications when trying to post transactions across different company codes.
  
  
  Cross-Company Code Transactions: When you attempt to post a transaction that involves multiple company codes, SAP requires that all company codes involved in the transaction use the same currency settings. If one company code uses freely-defined currencies and another does not, the system will not allow the posting.
  
  
  Solution:
  
  
  Check Company Code Settings: Review the currency settings for the company codes involved in the transaction. Ensure that they are compatible for cross-company postings. You may need to standardize the currency settings across the company codes.
  
  
  Use Standard Currencies: If possible, consider using standard currencies (like local currency or group currency) for the company codes involved in the transaction. This will help avoid the error when posting cross-company transactions.
  
  
  Adjust Transaction: If the transaction can be adjusted to avoid cross-company postings, consider doing so. For example, you might split the transaction into separate postings for each company code.
  
  
  Consult Documentation: Refer to SAP documentation or consult with your SAP support team for specific configuration settings related to currency and cross-company postings.
  
  
  Custom Development: If your business processes require the use of freely-defined currencies and cross-company postings, you may need to consider custom development or enhancements to handle these scenarios.
  
  
  Related Information:
  
  Transaction Codes: You can use transaction codes like OB22 to check and modify the currency settings for company codes.
  SAP Notes: Check for any relevant SAP Notes that might address this specific error or provide additional guidance on handling freely-defined currencies in cross-company postings.
  User Exits and BAdIs: If your organization has specific requirements, consider exploring user exits or Business Add-Ins (BAdIs) that might allow for more flexible handling of currency settings.
  
  By addressing the currency settings and ensuring compatibility across company codes, you should be able to resolve the error and successfully post your transactions.