How To Fix FML_CUST038 - No reference ledger for company &1 and currency &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FML_CUST - Message Class for ML Customizuing

• Message number: 038

• Message text: No reference ledger for company &1 and currency &2

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FML_CUST038 - No reference ledger for company &1 and currency &2 ?

  The SAP error message FML_CUST038 indicates that there is no reference ledger defined for a specific company code and currency combination. This error typically arises in the context of financial accounting and controlling when trying to perform transactions that require a reference ledger.
  Cause:
  
  Missing Configuration: The primary cause of this error is that the reference ledger has not been configured for the specified company code and currency in the system.
  Incorrect Settings: There may be incorrect settings in the financial configuration that do not align with the requirements for the transaction being processed.
  Data Entry Error: The company code or currency entered in the transaction may be incorrect or not matching the existing configurations.
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check Reference Ledger Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (New) > General Ledger Accounting (New) > Ledger > Define Reference Ledgers.
  Ensure that a reference ledger is defined for the specific company code and currency combination that is causing the error.
  
  
  
  Create or Modify Reference Ledger:
  
  If a reference ledger does not exist, you will need to create one.
  If it exists but is not correctly configured, modify it to ensure it meets the requirements for the transactions you are trying to process.
  
  
  
  Check Company Code Settings:
  
  Ensure that the company code is correctly set up in the system and that it is active.
  Verify that the currency settings for the company code are correct.
  
  
  
  Review Transaction Data:
  
  Double-check the transaction data you are entering to ensure that the company code and currency are correct and match the configurations in the system.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for additional guidance on configuring reference ledgers and troubleshooting related issues.
  
  
  
  Related Information:
  
  Transaction Codes: You may use transaction codes like OB22 (for defining ledgers) and OBY6 (for company code settings) to access relevant configuration screens.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  User Roles and Authorizations: Ensure that you have the necessary authorizations to make changes to the financial configuration settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a consultant who specializes in SAP Financials for further assistance.