How To Fix FINB_CURRENCY002 - Currency ID &1 is required for translation to currency &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FINB_CURRENCY - Messages for Currency Translation

• Message number: 002

• Message text: Currency ID &1 is required for translation to currency &2

What causes this issue?

You want to translate an amount to currency ID &v2& in accounting
system &v3&. According to the Customizing settings for currency
translation rules, you need currency ID &v1& to do this. No amount has
been passed on with this currency ID. Neither has automatic translation
to this currency ID been requested.

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?

Change configuration of accounting system &v3& or change the
Customizing settings for currency translation rules accordingly.

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 FINB_CURRENCY002 - Currency ID &1 is required for translation to currency &2 ?

  The SAP error message FINB_CURRENCY002 indicates that a currency ID is required for translating amounts from one currency to another, but the system cannot find the necessary currency information for the specified currencies. This typically occurs in financial transactions or reporting where currency conversion is needed.
  Cause:
  
  Missing Currency Configuration: The currency ID specified in the transaction or report is not configured in the system for the required translation.
  Incorrect Currency Code: The currency code provided may be incorrect or misspelled.
  Translation Table Not Maintained: The translation table for the currencies involved may not be maintained or updated.
  Missing Exchange Rate: There may be no exchange rate defined between the two currencies in the system.
  
  Solution:
  
  
  Check Currency Configuration:
  
  Go to the transaction code OB08 to check if the currency pair has an exchange rate defined.
  Ensure that both currencies involved in the transaction are correctly configured in the system.
  
  
  
  Verify Currency Codes:
  
  Double-check the currency codes used in the transaction or report to ensure they are correct and valid.
  
  
  
  Maintain Translation Table:
  
  If the translation table is not maintained, you may need to set it up. This can usually be done in the configuration settings for financial accounting.
  
  
  
  Define Exchange Rates:
  
  If there is no exchange rate defined, you can enter the required exchange rates in the same transaction (OB08) or through the relevant configuration settings.
  
  
  
  Check User Authorizations:
  
  Ensure that the user has the necessary authorizations to access and modify currency settings.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for additional guidance on currency translation and configuration.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB08: Maintain Exchange Rates
  OB22: Define Currencies
  OB37: Define Translation Ratios
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to currency translation errors.
  
  
  Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  By following these steps, you should be able to resolve the FINB_CURRENCY002 error and ensure that currency translations are correctly processed in your SAP system.