How To Fix FINS_IC_CUST028 - Currency type &1 cannot be used as a source currency type

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_IC_CUST - Manage Currencies: Customizing

• Message number: 028

• Message text: Currency type &1 cannot be used as a source currency type

What causes this issue?

The currency type &V1& cannot be used as a source currency type for the
currency conversion because it is already assigned as a target currency
type in project &V2& for the combination of ledger &V3& and company code
&V4&.

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?

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_CUST028 - Currency type &1 cannot be used as a source currency type ?

  The SAP error message FINS_IC_CUST028 indicates that a specific currency type (denoted as &1 in the message) cannot be used as a source currency type in the context of intercompany transactions or financial postings. This error typically arises in the context of financial accounting and controlling, particularly when dealing with currency conversions or intercompany processes.
  Cause:
  
  Incorrect Currency Type Configuration: The currency type you are trying to use may not be configured correctly in the system. For example, it might not be set up as a valid source currency type in the relevant configuration settings.
  Incompatibility with Transaction Type: The currency type may not be compatible with the type of transaction you are trying to process. Certain currency types are designated for specific purposes (e.g., local currency, group currency, etc.).
  Missing Customizing Settings: There may be missing or incorrect customizing settings in the SAP system that define which currency types can be used for specific transactions.
  
  Solution:
  
  
  Check Currency Type Configuration:
  
  Go to the SAP Customizing Implementation Guide (IMG) and navigate to the relevant settings for currency types.
  Ensure that the currency type you are trying to use is defined as a valid source currency type.
  
  
  
  Review Transaction Settings:
  
  Verify the transaction type you are working with and ensure that it allows the use of the specified currency type.
  Check if there are any specific requirements or restrictions for the transaction type in question.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to intercompany transactions and currency types to understand the requirements and limitations.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the configuration and transaction settings, consider reaching out to SAP support for further assistance. They may provide insights specific to your system configuration.
  
  
  
  Related Information:
  
  Currency Types in SAP: Currency types in SAP are used to define how currencies are treated in financial transactions. Common currency types include:
  
  00: Local currency
  10: Group currency
  20: Hard currency
  30: Index currency
  
  
  Intercompany Transactions: These transactions often involve multiple company codes and may require specific currency types to ensure proper accounting and reporting.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB22 (for defining currency types) and OB08 (for maintaining exchange rates) to assist in troubleshooting.
  
  By following these steps, you should be able to identify the cause of the error and implement the necessary changes to resolve it.