How To Fix FINS_ML_ERD004 - Invalid exchange rate type: &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_ML_ERD - Material Ledger: Exchange Rate Differences

• Message number: 004

• Message text: Invalid exchange rate type: &1

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.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FINS_ML_ERD004 - Invalid exchange rate type: &1 ?

  The SAP error message FINS_ML_ERD004 indicates that there is an issue with the exchange rate type being used in a financial transaction or posting. The message specifically states that the exchange rate type specified (represented by &1) is invalid or not recognized in the system.
  Cause:
  
  Invalid Exchange Rate Type: The exchange rate type specified in the transaction does not exist in the system or is not configured properly.
  Configuration Issues: The exchange rate type may not be defined in the system settings or may have been deactivated.
  Data Entry Error: There may be a typographical error in the exchange rate type entered in the transaction.
  Missing Customization: The exchange rate type may not be assigned to the relevant company code or currency pair.
  
  Solution:
  
  
  Check Exchange Rate Type:
  
  Verify the exchange rate type being used in the transaction. Ensure that it is correctly entered and matches the expected format.
  
  
  
  Configuration in SAP:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) to check if the exchange rate type exists and is properly configured.
  Ensure that the exchange rate type is active and has valid rates defined for the relevant currencies.
  
  
  
  Review Customizing Settings:
  
  Use transaction code OBBS to check the configuration of exchange rate types and ensure that they are assigned to the relevant company codes and currencies.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP Basis or Finance team to ensure that the exchange rate types are set up according to your organization's requirements.
  
  
  
  Error Handling:
  
  If the exchange rate type is indeed valid and configured correctly, check for any recent changes in the system that might have affected the exchange rate configuration.
  
  
  
  Related Information:
  
  Exchange Rate Types: Exchange rate types are used in SAP to define how currency conversions are handled. Common types include "M" for average rate, "B" for bank buying rate, etc.
  Transaction Codes:
  
  OB08: Maintain Exchange Rates
  OBBS: Define Exchange Rate Types
  
  
  SAP Notes: Check SAP Notes for any known issues or patches related to exchange rate types and the specific error message.
  
  If the issue persists after checking the above points, it may be necessary to involve your SAP support team or consult SAP support for further assistance.