How To Fix FMEFESOA008 - Exchange rate quoted currency has to correspond with local currency

SAP Error Message - Details

• Message type: E = Error

• Message class: FMEFESOA -

• Message number: 008

• Message text: Exchange rate quoted currency has to correspond with local currency

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FMEFESOA008 - Exchange rate quoted currency has to correspond with local currency ?

  The SAP error message FMEFESOA008 indicates that there is a mismatch between the exchange rate quoted currency and the local currency in a financial transaction. This error typically occurs in the context of foreign currency transactions, where the system expects the exchange rate to be defined for the local currency being used in the transaction.
  Cause:
  
  Currency Mismatch: The exchange rate being used does not correspond to the local currency defined in the transaction. For example, if the local currency is USD, the exchange rate should be quoted in USD.
  Missing Exchange Rate: There may not be an exchange rate defined for the combination of the local currency and the quoted currency.
  Incorrect Configuration: The configuration settings in the SAP system for currency conversion may not be set up correctly.
  
  Solution:
  
  
  Check Currency Settings:
  
  Verify the local currency defined in the transaction.
  Ensure that the exchange rate is set up correctly for the local currency and the quoted currency.
  
  
  
  Maintain Exchange Rates:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) in SAP.
  Check if the exchange rate for the relevant currency pair (local currency and quoted currency) is maintained.
  If not, add the necessary exchange rate.
  
  
  
  Review Transaction Data:
  
  Double-check the transaction data to ensure that the correct currencies are being used.
  Make sure that the transaction is being processed in the correct local currency.
  
  
  
  Consult Configuration:
  
  If the issue persists, consult with your SAP configuration team to review the settings related to currency conversion and exchange rate determination.
  
  
  
  Testing:
  
  After making the necessary adjustments, test the transaction again to ensure that the error is resolved.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OB08: Maintain Exchange Rates
  FB50: Enter G/L Account Document
  F-02: Enter G/L Account Posting
  
  
  Documentation: Refer to SAP Help documentation for detailed information on currency settings and exchange rate maintenance.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to currency handling and exchange rates.
  
  By following these steps, you should be able to resolve the error message FMEFESOA008 and ensure that your financial transactions are processed correctly in SAP.