How To Fix FINS_IC_CUST029 - Currency type &1 cannot be used as a target currency type.

FINS_IC_CUST029 - Overview

• Message type: E = Error

• Message class: FINS_IC_CUST - Manage Currencies: Customizing

• Message number: 029

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

What causes this issue?

Only currency types that have <LS>Valuation View - Legal Valuation</>
can be used as target currency types.
Therefore, currency type &V1& cannot be used as a target currency type
for the currency conversion.

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

Please note that the following currency types are also invalid target
currency types:
Document currency (currency type 00)
Company code currency
Group currency

System Response

How to fix this error?

You can view and modify the <LS>Valuation View</> that is assigned to
your currency type in the Customizing activity
<DS:SIMG.FINSVC_LEDGER_IC>Define Settings for Currency Types</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FINS_IC_CUST029 - Details

• The SAP error message FINS_IC_CUST029 indicates that the currency type specified (denoted as &1 in the message) cannot be used as a target currency type in the context of intercompany transactions or financial postings. This error typically arises in scenarios involving currency conversion or when dealing with intercompany accounting.
  
  Cause:
  
  Invalid Currency Type: The currency type specified may not be configured correctly in the system or may not be allowed for the specific transaction you are trying to perform.
  
  Configuration Issues: The currency type might not be set up in the system for the relevant company code or controlling area.
  Transaction Type Restrictions: Certain transaction types may have restrictions on which currency types can be used as target currencies.
  Missing Customizing Settings: The necessary customizing settings for intercompany transactions may not be properly defined.
  
  
  Solution:
  
  
  Check Currency Type Configuration:
  
  Go to the SAP Customizing Implementation Guide (IMG) and navigate to Financial Accounting (New) > Financial Accounting Global Settings