How To Fix FINS_FI_MIG701 - Company Code &1: Transaction Currency will be filled for &2 entries

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 701

• Message text: Company Code &1: Transaction Currency will be filled for &2 entries

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_FI_MIG701 - Company Code &1: Transaction Currency will be filled for &2 entries ?

  The SAP error message FINS_FI_MIG701 typically occurs during the migration of financial data, particularly when using the SAP S/4HANA Migration Cockpit or similar tools. This error indicates that the transaction currency is not being filled for certain entries in the specified company code.
  Cause:
  The error message is triggered when the system detects that there are entries in the migration data that do not have a transaction currency specified. This is a critical requirement because financial transactions need to be recorded in a specific currency to ensure accurate financial reporting and compliance.
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Migration Data: Review the migration data file (e.g., CSV or Excel) that you are using for the migration. Ensure that all relevant entries have a valid transaction currency specified.
  
  
  Update Missing Currencies: If you find entries without a transaction currency, update those entries to include the appropriate currency code. The currency code should match the currency used in the respective financial transactions.
  
  
  Validate Data: Before re-running the migration, validate the data to ensure that all required fields, including transaction currency, are filled correctly.
  
  
  Use Mapping: If you are migrating from a legacy system, ensure that you have a proper mapping of currencies from the old system to the new SAP system. This may involve creating a mapping table that associates legacy currency codes with SAP currency codes.
  
  
  Test Migration: After making the necessary corrections, perform a test migration with a smaller dataset to ensure that the error does not occur again.
  
  
  Consult Documentation: Refer to the SAP documentation for the specific migration tool you are using, as it may provide additional insights or requirements regarding currency handling.
  
  
  Related Information:
  
  Transaction Currency: This is the currency in which the transaction is recorded. It is essential for financial reporting and analysis.
  Company Code: This is an organizational unit in SAP that represents a legal entity. Each company code can have its own currency settings.
  Migration Cockpit: This is a tool provided by SAP for migrating data from legacy systems to SAP S/4HANA. It includes various templates and guidelines for data migration.
  
  If the issue persists after following these steps, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.