How To Fix FINS_IC_CUST022 - Balances of rounding diff acct &1 are not only managed in local currency

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_IC_CUST - Manage Currencies: Customizing

• Message number: 022

• Message text: Balances of rounding diff acct &1 are not only managed in local currency

What causes this issue?

To post rounding differences, you must define special accounts for these
rounding differences in the project configuration.
A rounding difference account, such as &V1& that is used for company
code &V2& and chart of accounts &V3&, must fulfill the following
requirements:
The GL account type must be <LS>Nonoperating Expense or Income</>
(Attribute <AB>SKA1-GLACCOUNT_TYPE = 'N'</>).
The account currency must be equal to the local currency of the company
code
(Attribute <AB>SKB1-WAERS = T001-WAERS</>)
Posting to a rounding difference account with taxes isn't mandatory
(Attribute <AB>SKB1-XMWNO </>is initial).
A rounding difference account is not open-item-managed
(Attribute <AB>SKB1-XOPVW </>is initial).
Rounding difference account must not be defined as to <LS>Post
automatically only</>
(Attribute <AB>SKB1-XINTB </>is initial).
A rounding difference account must not be defined as a reconciliation
account
(Attribute <AB>SKB1-MITKZ </>is empty).
For rounding difference accounts, the balances must be managed in the
local currency only
(Attribute <AB>SKB1-XSALH = 'X'</>)

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?

In the project configuration, ensure that the accounts used for rounding
differences comply with the requirements described above.

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 FINS_IC_CUST022 - Balances of rounding diff acct &1 are not only managed in local currency ?

  The SAP error message FINS_IC_CUST022 indicates that there is an issue with the handling of rounding differences in intercompany transactions. Specifically, it suggests that the balances of the rounding difference account (indicated by &1) are not solely managed in the local currency, which can lead to inconsistencies in financial reporting and reconciliation.
  Cause:
  
  Currency Configuration: The rounding difference account may be configured to handle multiple currencies, but the system expects it to only manage balances in the local currency.
  Intercompany Transactions: When intercompany transactions are processed, rounding differences can arise due to currency conversions. If the rounding difference account is not set up correctly, it can lead to this error.
  Account Settings: The account settings for the rounding difference account may not align with the requirements for intercompany accounting, particularly in terms of currency management.
  
  Solution:
  
  
  Check Account Configuration:
  
  Go to the configuration settings for the rounding difference account (transaction code OB52 or through the SPRO menu).
  Ensure that the account is set to manage balances only in the local currency if that is the requirement for your business process.
  
  
  
  Adjust Currency Settings:
  
  If the account needs to handle multiple currencies, ensure that the necessary settings are in place to allow for this. This may involve adjusting the currency types or settings in the financial accounting configuration.
  
  
  
  Review Intercompany Settings:
  
  Check the intercompany settings in your SAP system to ensure that they are correctly configured to handle rounding differences. This may involve reviewing the settings in the Intercompany Accounting (ICA) module.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or notes related to intercompany accounting and rounding differences for specific guidance on how to configure the system correctly.
  
  
  
  Testing:
  
  After making changes, perform tests with intercompany transactions to ensure that the error does not reoccur and that rounding differences are handled correctly.
  
  
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on configuration.
  Transaction Codes: Familiarize yourself with transaction codes such as OB52 (for account settings) and SPRO (for configuration) to navigate the system effectively.
  Intercompany Accounting: Understanding the principles of intercompany accounting and how SAP handles currency conversions and rounding differences can be beneficial.
  
  If the issue persists after following these steps, it may be necessary to consult with your SAP support team or a consultant who specializes in SAP Financials for further assistance.