How To Fix FINS_REV_REC111 - Currency &1 does not exist

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 111

• Message text: Currency &1 does not exist

Self-Explanatory Message

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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_REV_REC111 - Currency &1 does not exist ?

  The SAP error message FINS_REV_REC111 with the description "Currency &1 does not exist" typically occurs in the context of financial transactions, particularly when dealing with revenue recognition or related financial processes. This error indicates that the system is unable to find the specified currency in its configuration.
  Cause:
  
  
  Missing Currency Configuration: The currency specified in the transaction or document does not exist in the system. This could be due to:
  
  The currency not being defined in the system.
  The currency not being activated for the relevant company code or controlling area.
  The currency being incorrectly entered in the transaction.
  
  
  
  Data Entry Error: There might be a typographical error in the currency code entered in the transaction.
  
  
  Currency Deactivation: The currency might have been deactivated or removed from the system after it was previously used.
  
  
  Solution:
  
  
  Check Currency Configuration:
  
  Go to the transaction code OB08 (or the relevant configuration path) to check if the currency is defined in the system.
  Ensure that the currency is active and properly configured for the relevant company code.
  
  
  
  Verify Company Code Settings:
  
  Ensure that the currency is assigned to the company code in the configuration settings. You can check this in the company code settings under SPRO > Enterprise Structure > Definition > Financial Accounting > Define Company Code.
  
  
  
  Correct Data Entry:
  
  Double-check the currency code entered in the transaction. Ensure that it matches the standard ISO currency codes (e.g., USD for US Dollar, EUR for Euro).
  
  
  
  Consult with SAP Basis or Functional Team:
  
  If the currency is indeed missing and should be present, consult with your SAP Basis or functional team to add or activate the currency in the system.
  
  
  
  Review Transaction Context:
  
  If the error occurs in a specific transaction, review the context and ensure that all necessary configurations related to that transaction are correctly set up.
  
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB08: Maintain exchange rates.
  SPRO: Access the SAP Reference IMG for configuration settings.
  
  
  
  Currency Types: Understand the different types of currencies in SAP (e.g., company code currency, controlling area currency, etc.) and how they are used in financial transactions.
  
  
  SAP Notes: Check for any relevant SAP Notes that might address this specific error or provide additional troubleshooting steps.
  
  
  By following these steps, you should be able to identify the cause of the error and implement the necessary solution to resolve it.