How To Fix FIGLCN_DFS_MSG004 - Exchange Rate Type &1 was not configured for &2 and &3.

SAP Error Message - Details

• Message type: E = Error

• Message class: FIGLCN_DFS_MSG -

• Message number: 004

• Message text: Exchange Rate Type &1 was not configured for &2 and &3.

Self-Explanatory Message

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To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FIGLCN_DFS_MSG004 - Exchange Rate Type &1 was not configured for &2 and &3. ?

  The SAP error message FIGLCN_DFS_MSG004 indicates that the exchange rate type specified in the system has not been configured for the given company code and currency pair. This error typically arises in the context of financial transactions where currency conversion is required, such as in foreign currency accounting or when processing transactions involving multiple currencies.
  Cause:
  
  Missing Configuration: The exchange rate type (e.g., M for average rate, G for historical rate) has not been set up for the specified company code and currency pair.
  Incorrect Exchange Rate Type: The exchange rate type being referenced may not exist or may not be valid for the specified currencies.
  Company Code Issues: The company code may not be properly configured to use the specified exchange rate type.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Exchange Rate Type Configuration:
  
  Go to the SAP transaction code OB08 (Maintain Exchange Rates).
  Verify that the exchange rate type specified in the error message is configured for the relevant currency pair (from currency to to currency).
  If it is not configured, you will need to add the necessary exchange rates for that type.
  
  
  
  Configure Exchange Rate Type:
  
  If the exchange rate type does not exist, you may need to create it using transaction code OB07 (Define Exchange Rate Types).
  Ensure that the exchange rate type is assigned to the relevant company code.
  
  
  
  Check Company Code Settings:
  
  Use transaction code OBY6 (Define Company Code) to check if the company code is set up correctly for foreign currency valuation.
  Ensure that the currency settings for the company code are correct.
  
  
  
  Review Currency Settings:
  
  Check if the currencies involved in the transaction are correctly defined in the system.
  Use transaction code OB22 (Define Currencies) to verify the currency settings.
  
  
  
  Test the Configuration:
  
  After making the necessary changes, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Exchange Rate Types: Different exchange rate types can be used for various purposes, such as average rates for reporting or historical rates for specific transactions.
  Currency Conversion: Understanding how currency conversion works in SAP is crucial for financial reporting and transaction processing.
  Documentation: Refer to SAP Help documentation for detailed information on configuring exchange rates and currency settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any known issues related to this error message.