How To Fix FINS_MIG_HIST_BAL028 - Freely defined currency must be &1 for &2 company code

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_MIG_HIST_BAL -

• Message number: 028

• Message text: Freely defined currency must be &1 for &2 company code

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_MIG_HIST_BAL028 - Freely defined currency must be &1 for &2 company code ?

  The SAP error message FINS_MIG_HIST_BAL028 indicates that there is an issue with the currency settings for a specific company code during a migration or data upload process. The message states that a "freely defined currency" must be a specific value (&1) for the specified company code (&2).
  Cause:
  This error typically arises in the following scenarios:
  
  Incorrect Currency Configuration: The company code is configured to use a specific currency, but the data being uploaded or migrated is using a different currency.
  Data Migration Issues: During data migration, the historical balances or transactions may not align with the expected currency settings for the company code.
  Master Data Inconsistencies: There may be inconsistencies in the master data related to currency definitions for the company code.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Company Code Currency Settings:
  
  Go to the transaction code OBY6 (or use the appropriate navigation path) to check the currency settings for the company code in question.
  Ensure that the "Freely Defined Currency" matches the expected value (&1) as indicated in the error message.
  
  
  
  Review Migration Data:
  
  If you are migrating data, review the data files or records being uploaded to ensure that they are using the correct currency.
  Make necessary adjustments to the data to align with the company code's currency settings.
  
  
  
  Adjust Master Data:
  
  Check the master data for any inconsistencies related to currency definitions. This includes vendor, customer, and general ledger accounts.
  Ensure that all relevant master data is updated to reflect the correct currency.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to currency settings and migration processes to ensure compliance with best practices.
  
  
  
  Testing:
  
  After making the necessary adjustments, perform a test migration or data upload to verify that the error has been resolved.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OBY6 (Company Code Global Settings), OB22 (Define Currency Types), and OB08 (Exchange Rate Types).
  SAP Notes: Check for any SAP Notes related to this error message or currency configuration issues, as they may provide additional insights or patches.
  SAP Community: Engage with the SAP Community forums for discussions and solutions shared by other users who may have encountered similar issues.
  
  By following these steps, you should be able to identify the root cause of the error and implement the necessary changes to resolve it.