How To Fix FICO1551 - No set of rules exists for cross-currency conditions

SAP Error Message - Details

• Message type: E = Error

• Message class: FICO1 -

• Message number: 551

• Message text: No set of rules exists for cross-currency conditions

What causes this issue?

The processing of a <DS:DE.FICO_ISETID>condition set of rules</> is not
possible for <DS:GLOS.05588A88E4FFBE468ABC4959A905712F>cross-currency
conditions</>.

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?

Define the condition currency.
If you used a cross-currency condition already, you cannot create a set
of rules for this condition.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FICO1551 - No set of rules exists for cross-currency conditions ?

  The SAP error message FICO1551, which states "No set of rules exists for cross-currency conditions," typically occurs in the context of financial transactions involving multiple currencies. This error indicates that the system cannot find the necessary configuration to handle the cross-currency conditions for the transaction you are trying to process.
  Cause:
  
  
  Missing Configuration: The primary cause of this error is that the necessary configuration for cross-currency conditions has not been set up in the system. This could involve missing exchange rate types, condition types, or pricing procedures that are required for processing transactions in different currencies.
  
  
  Incorrect Settings: There may be incorrect or incomplete settings in the configuration of the pricing procedure or the condition records related to cross-currency transactions.
  
  
  Currency Pair Not Defined: The specific currency pair involved in the transaction may not be defined in the system, leading to the inability to process the transaction.
  
  
  Solution:
  To resolve the FICO1551 error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (New) > Accounts Receivable and Accounts Payable > Business Transactions > Incoming Payments > Define Cross-Currency Conditions.
  Ensure that the necessary condition types and rules for cross-currency transactions are defined.
  
  
  
  Define Exchange Rate Types:
  
  Ensure that the exchange rate types are correctly defined and maintained in the system.
  You can check this under Financial Accounting > General Ledger > Master Data > G/L Accounts > Preparation > Define Exchange Rate Types.
  
  
  
  Maintain Condition Records:
  
  Check if the condition records for the relevant currency pair are maintained. You can do this in the condition maintenance transaction (e.g., using transaction code VK11).
  
  
  
  Check Currency Pair:
  
  Verify that the currency pair you are trying to use is defined in the system. You can check this in the transaction for maintaining exchange rates (e.g., transaction code OB08).
  
  
  
  Test the Configuration:
  
  After making the necessary changes, test the configuration by attempting to process the transaction again to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), VK11 (Create Condition), and SPRO (Customizing).
  Documentation: Refer to SAP documentation or help guides for detailed steps on configuring cross-currency conditions.
  Support: If the issue persists after checking the configuration, consider reaching out to your SAP support team or consulting with an SAP FICO expert for further assistance.
  
  By following these steps, you should be able to resolve the FICO1551 error and successfully process your cross-currency transactions.