How To Fix FML_CUST005 - Not an ML currency type. Is FI currency type but wrong FY variant for ML

SAP Error Message - Details

• Message type: E = Error

• Message class: FML_CUST - Message Class for ML Customizuing

• Message number: 005

• Message text: Not an ML currency type. Is FI currency type but wrong FY variant for ML

What causes this issue?

This currency is not marked as a material ledger currency. It is
contained in FI but is not allowed in ML because this currency is not
used in a ledger with the same fiscal year variant as the company code
(T001-PERIV).

System Response

The currency cannot be used as a material ledger currency.

How to fix this error?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

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 FML_CUST005 - Not an ML currency type. Is FI currency type but wrong FY variant for ML ?

  The SAP error message FML_CUST005 indicates that there is an issue with the currency type configuration in the context of the Multi-Level (ML) functionality in Financial Accounting (FI). This error typically arises when the system expects a specific currency type for a particular fiscal year variant, but the configuration does not match.
  Cause:
  
  
  Currency Type Mismatch: The error suggests that the currency type being used is not compatible with the fiscal year variant defined for the Multi-Level (ML) functionality. This can happen if:
  
  The currency type is set to a FI currency type, but the fiscal year variant does not support it for ML.
  The configuration for the currency types in the controlling area or company code is not aligned with the fiscal year variant settings.
  
  
  
  Fiscal Year Variant Configuration: The fiscal year variant may not be correctly set up to handle the currency types that are being used in the transaction or report.
  
  
  Solution:
  
  
  Check Currency Type Configuration:
  
  Go to the transaction code OB08 to check the currency types defined in your system.
  Ensure that the currency type you are using is appropriate for the fiscal year variant in question.
  
  
  
  Review Fiscal Year Variant Settings:
  
  Use transaction code OB29 to review the fiscal year variant settings.
  Ensure that the fiscal year variant is correctly configured to support the currency types you are using.
  
  
  
  Adjust Settings:
  
  If you find discrepancies, you may need to adjust the settings in either the currency type configuration or the fiscal year variant.
  Make sure that the fiscal year variant assigned to the company code or controlling area is compatible with the currency types being used.
  
  
  
  Consult Documentation: If you are unsure about the configurations, refer to SAP documentation or consult with your SAP Basis or FI consultant for guidance on the correct setup.
  
  
  Testing: After making changes, perform a test transaction to ensure that the error is resolved.
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB08: Maintain exchange rates and currency types.
  OB29: Define fiscal year variants.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on configuration.
  
  
  User Roles: Ensure that you have the necessary authorizations to make changes to the configuration settings.
  
  
  By following these steps, you should be able to resolve the FML_CUST005 error and ensure that your currency type and fiscal year variant settings are correctly aligned.