How To Fix FINS_REV_REC063 - &3: object currencies &2 of journal entries differ from &1 of master data

FINS_REV_REC063 - Overview

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 063

• Message text: &3: object currencies &2 of journal entries differ from &1 of master data

What causes this issue?

If the object currency or the contract currency is used as the
functional currency, only a single currency is supported for a
particular object. The indicated single currency is the currency
assigned to the master data of the indicated object. Furthermore there
cannot be any journal entries without such a currency for this
particular object.

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.

FINS_REV_REC063 - Details

• The SAP error message FINS_REV_REC063 indicates that there is a discrepancy between the currency of the journal entries and the currency of the master data for a specific object. This typically occurs in the context of revenue recognition and can affect financial reporting and accounting processes.
  
  Cause:
  The error arises when:
  
  The currency of the journal entries (e.g., revenue recognition entries) does not match the currency defined in the master data (e.g., customer master data, contract master data).
  There may be a configuration issue where the currency settings for the relevant objects are not aligned.
  The system is trying to process a transaction that involves multiple currencies, and the conversion or mapping is not set up correctly.
  
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Master Data:
  
  Verify the currency settings in the master data for the relevant objects (e.g., customer, vendor, or contract).
  Ensure that the currency in the master data matches the currency used