How To Fix FINS_FI_MIG078 - Maintain an exchange rate type for data migration

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_FI_MIG - SAP S/4HANA Finance: Data Migration

• Message number: 078

• Message text: Maintain an exchange rate type for data migration

What causes this issue?

Data migration has to fill the amount in company code currency for all
items of the universal journal. In case amounts are available in other
currencies only, e.g. for purely statistical items in table COEP, the
company code currency is translated from another amount.
The exchange rate type used for this currency translation has not been
maintained.

System Response

Affected items are migrated with zero amount.

How to fix this error?

Maintain the exchange rate type for currency translation in the
<DS:SIMG.FINSC_MIG_CURR>IMG</>.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_FI_MIG078 - Maintain an exchange rate type for data migration ?

  The SAP error message FINS_FI_MIG078 indicates that there is a missing exchange rate type that is required for data migration processes, particularly when dealing with financial data in the SAP system. This error typically arises during the migration of financial data, such as during the transition to SAP S/4HANA or when performing data uploads using tools like the Migration Cockpit.
  Cause:
  The error occurs because the system cannot find a defined exchange rate type that is necessary for converting currencies during the data migration process. Exchange rate types are essential for ensuring that financial transactions are accurately represented in the correct currency.
  Solution:
  To resolve this error, you need to maintain an exchange rate type in the SAP system. Here are the steps to do this:
  
  
  Access the Exchange Rate Type Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to the following path: 
  SPRO -> SAP Reference IMG -> Financial Accounting (New) -> Financial Accounting Global Settings (New) -> Currencies -> Define Exchange Rate Types
  
  
  
  
  Define a New Exchange Rate Type:
  
  In the configuration screen, you can create a new exchange rate type if one does not already exist.
  Click on "New Entries" to create a new exchange rate type.
  Enter the required details, such as the exchange rate type code and description.
  
  
  
  Maintain Exchange Rates:
  
  After defining the exchange rate type, you need to maintain the actual exchange rates for the currencies you will be using.
  Navigate to:
  SPRO -> SAP Reference IMG -> Financial Accounting (New) -> Financial Accounting Global Settings (New) -> Currencies -> Maintain Exchange Rates
  
  Enter the exchange rates for the relevant currencies against the exchange rate type you just created.
  
  
  
  Check Migration Settings:
  
  Ensure that the migration settings in your data migration tool (like the Migration Cockpit) are correctly configured to use the exchange rate type you have defined.
  
  
  
  Test the Migration:
  
  After making the necessary changes, attempt the data migration process again to see if the error persists.
  
  
  
  Related Information:
  
  Exchange Rate Types: These are used to define how currency conversions are handled in the system. Common types include "M" for average rates, "B" for bank buying rates, etc.
  Data Migration Tools: Familiarize yourself with the tools available for data migration in SAP, such as the SAP S/4HANA Migration Cockpit, which provides templates and guidelines for migrating financial data.
  Documentation: Refer to SAP Help documentation for detailed instructions on configuring exchange rates and types, as well as best practices for data migration.
  
  By following these steps, you should be able to resolve the FINS_FI_MIG078 error and successfully complete your data migration process.