How To Fix FINS_ML_ERD005 - Invalid currency type: &1

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 005

• Message text: Invalid currency 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_ERD005 - Invalid currency type: &1 ?

  The SAP error message FINS_ML_ERD005 with the description "Invalid currency type: &1" typically occurs in the context of financial transactions or postings where a currency type is expected but is either not recognized or is incorrectly specified.
  Cause:
  
  Invalid Currency Code: The currency code provided in the transaction does not exist in the system or is not configured correctly.
  Configuration Issues: The currency type may not be defined in the relevant configuration settings, such as in the currency types table.
  Data Entry Errors: There may be a typographical error in the currency code entered by the user.
  Missing Currency Type: The currency type might not be assigned to the relevant company code or controlling area.
  Inconsistent Data: The currency type may not be consistent with the settings in the financial document or master data.
  
  Solution:
  
  Check Currency Code: Verify that the currency code entered is correct and exists in the system. You can check this in the transaction code OB08 (Maintain Exchange Rates) or OBY6 (Define Currency Types).
  Configuration Review: Ensure that the currency type is properly configured in the system. You can check the configuration in the following areas:
  
  Transaction Code OBA7: Check the currency types defined in the system.
  Transaction Code OBY6: Ensure that the currency type is assigned to the relevant company code.
  
  
  Correct Data Entry: If the currency code was entered manually, double-check for any typographical errors.
  Review Master Data: Ensure that the master data (like vendor or customer records) is correctly set up with valid currency types.
  Consult Documentation: If the issue persists, refer to SAP documentation or consult with your SAP support team for further assistance.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08, OBA7, and OBY6 for currency management.
  SAP Notes: Check SAP Notes for any known issues or patches related to currency types and financial postings.
  User Authorization: Ensure that the user has the necessary authorizations to perform transactions involving currency types.
  Testing: If changes are made, test the transaction again to ensure that the error is resolved.
  
  If the problem continues after following these steps, it may be beneficial to engage with your SAP support team or consult the SAP community for more specific guidance based on your system configuration.