How To Fix FICA_COLIABILITY_OBJ062 - No local currency found

SAP Error Message - Details

• Message type: E = Error

• Message class: FICA_COLIABILITY_OBJ - Debt Object Messages

• Message number: 062

• Message text: No local currency found

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FICA_COLIABILITY_OBJ062 - No local currency found ?

  The SAP error message FICA_COLIABILITY_OBJ062: No local currency found typically occurs in the context of the Financial Contract Accounting (FICA) module when the system is unable to find a local currency for a specific business transaction or account. This can happen for various reasons, and understanding the cause is essential for resolving the issue.
  Causes:
  
  Missing Configuration: The local currency may not be configured for the relevant company code or business area in the system.
  Incorrect Master Data: The master data for the customer or vendor may not have the correct currency settings.
  Transaction Data Issues: The transaction being processed may not have a defined local currency, or it may be referencing an invalid or inactive currency.
  Currency Type Settings: The currency type settings in the FICA configuration may not be set up correctly.
  Integration Issues: If there are integrations with other modules (like FI or CO), discrepancies in currency settings can lead to this error.
  
  Solutions:
  
  
  Check Company Code Configuration:
  
  Go to the configuration settings for the company code in the SAP system and ensure that the local currency is defined correctly.
  Transaction code: OBY6 (for company code settings).
  
  
  
  Review Master Data:
  
  Check the master data for the customer or vendor involved in the transaction. Ensure that the local currency is specified correctly.
  Transaction code: FD03 (for customer master data) or FK03 (for vendor master data).
  
  
  
  Verify Transaction Data:
  
  Review the specific transaction that triggered the error. Ensure that it has the correct currency settings and that it is not referencing an invalid currency.
  
  
  
  Check Currency Type Settings:
  
  Ensure that the currency type settings in the FICA configuration are correctly set up. This can be done in the configuration menu under Financial Accounting (FI) -> Contract Accounts Receivable and Payable -> Basic Functions -> Currency Management.
  
  
  
  Consult with Technical Support:
  
  If the issue persists after checking the above areas, it may be necessary to consult with your SAP technical support team or a functional consultant who can analyze the system logs and provide further insights.
  
  
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  Documentation: Review the SAP documentation for FICA to understand the currency management features and settings.
  Community Forums: Engage with SAP community forums or user groups where similar issues may have been discussed.
  
  By following these steps, you should be able to identify the root cause of the error and implement the necessary solution to resolve it.