How To Fix FMEFSE008 - Exchange rate quoted currency has to correspond with local currency

SAP Error Message - Details

• Message type: E = Error

• Message class: FMEFSE - Messages for Funds Commitment Document service enabling

• 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 FMEFSE008 - Exchange rate quoted currency has to correspond with local currency ?

  The SAP error message FMEFSE008 indicates that there is a mismatch between the exchange rate quoted currency and the local currency in a financial transaction. This error typically occurs when you are trying to process a transaction that involves currency conversion, and the system expects the exchange rate to be defined for the local currency but finds a discrepancy.
  Cause:
  
  Currency Mismatch: The currency you are trying to use in the transaction does not match the local currency defined in the system.
  Exchange Rate Configuration: The exchange rate for the currency pair (local currency and quoted currency) may not be maintained in the system.
  Transaction Settings: The settings for the transaction may not be correctly configured to handle the currencies involved.
  
  Solution:
  
  
  Check Local Currency: Verify the local currency settings in your company code. Ensure that the currency you are using in the transaction corresponds to the local currency defined in the system.
  
  
  Maintain Exchange Rates:
  
  Go to the transaction code OB08 (Maintain Exchange Rates).
  Check if the exchange rate for the local currency and the quoted currency is maintained.
  If not, enter the appropriate exchange rate for the relevant date.
  
  
  
  Review Transaction Configuration: Ensure that the transaction you are trying to execute is configured to handle the currencies involved. This may involve checking the settings in the relevant financial module (e.g., Accounts Payable, Accounts Receivable).
  
  
  Currency Type: Make sure that the currency type used in the transaction is appropriate. For example, if you are using a foreign currency, ensure that it is set up correctly in the system.
  
  
  Consult Documentation: If the issue persists, refer to SAP documentation or consult with your SAP support team for further troubleshooting.
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), OBA1 (Maintain Company Code), and OX15 (Define Company Code).
  Currency Configuration: Review the configuration settings for currencies in your SAP system, including the definition of local currencies and foreign currencies.
  SAP Notes: Check for any SAP Notes related to this error message for additional guidance or patches that may address the issue.
  
  By following these steps, you should be able to resolve the FMEFSE008 error and ensure that your transactions are processed correctly.