How To Fix FKKEXR001 - Exchange rate &1 differs from table rate &2 by &4 %

SAP Error Message - Details

• Message type: E = Error

• Message class: FKKEXR - FI-CA: Exchange Rates, Currencies

• Message number: 001

• Message text: Exchange rate &1 differs from table rate &2 by &4 %

What causes this issue?

At event 1111, the alternative exchange rate &V1& was determined for the
tax items. If this exchange rate differs from the exchange rate &V2&
entered in Customizing by more than &V3& percent, the system issues a
warning. The difference is &V4& percent. You enter the limits for the
difference in the exchange rates (<LS>Maximum Exchange Rate Difference
</>) in Customizing for Financial Accounting under <LS>Basic Settings ->
Global Parameters for Company Code -> <DS:SIMG.SIMG_CFMENUORFBOBY6>Enter
Global Parameters</></>).

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?

Check if the difference of more than &V3& percent is correct.
INCLUDE FICA_NA_CUST_1 OBJECT DOKU ID TX

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FKKEXR001 - Exchange rate &1 differs from table rate &2 by &4 % ?

  The SAP error message FKKEXR001 indicates that there is a discrepancy between the exchange rate being used in a transaction and the exchange rate stored in the system's exchange rate table. Specifically, the message states that the exchange rate you are trying to use differs from the rate in the table by a specified percentage.
  Cause:
  
  Exchange Rate Variance: The exchange rate you are trying to apply in a financial transaction (like invoicing or payment) is significantly different from the rate defined in the exchange rate table.
  Configuration Issues: The exchange rate table may not be updated with the latest rates, or the rates may not be configured correctly.
  Currency Conversion: The transaction may involve multiple currencies, and the conversion rates may not align with the expected values.
  Manual Entry Errors: If the exchange rate was entered manually, it may have been entered incorrectly.
  
  Solution:
  
  
  Check Exchange Rate Table: 
  
  Go to the transaction code OB08 (Maintain Exchange Rates) to review the exchange rates defined in the system. Ensure that the rates are up-to-date and accurate.
  
  
  
  Update Exchange Rates: 
  
  If the rates are outdated, update them with the correct values. You can do this manually or through an automated process if your organization has one in place.
  
  
  
  Review Transaction Details: 
  
  Check the transaction details to ensure that the correct currency and exchange rate are being used. If the rate was entered manually, verify its accuracy.
  
  
  
  Adjust Tolerance Settings: 
  
  If the variance is acceptable for your business processes, you may consider adjusting the tolerance settings for exchange rate differences. This can be done in the configuration settings, but be cautious as it may affect financial reporting.
  
  
  
  Consult with Finance Team: 
  
  If you are unsure about the correct exchange rates or how to proceed, consult with your finance or accounting team for guidance.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OB08: Maintain Exchange Rates
  FB50: Enter G/L Account Document
  F-02: Enter G/L Account Posting
  
  
  Documentation: Review SAP documentation or help files related to currency conversion and exchange rate maintenance for more detailed guidance.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues or bugs related to exchange rates.
  
  By following these steps, you should be able to resolve the FKKEXR001 error and ensure that your exchange rates are correctly configured in SAP.