How To Fix FQM205 - No currency defined for account number &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FQM - Financial Quantity Management Message Class

• Message number: 205

• Message text: No currency defined for account number &1

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FQM205 - No currency defined for account number &1 ?

  The SAP error message FQM205: No currency defined for account number &1 typically occurs when there is an attempt to process a financial transaction involving an account that does not have a currency defined in the system. This can happen in various financial modules, such as Financial Accounting (FI) or Controlling (CO).
  Cause:
  
  Missing Currency Definition: The account number specified in the error message does not have an associated currency defined in the system.
  Incorrect Account Configuration: The account may not be properly configured in the chart of accounts or may not have been set up to handle transactions in a specific currency.
  Data Migration Issues: If data has been migrated from another system, there may be inconsistencies or missing configurations related to currency settings.
  Account Type: The account type may not support currency transactions, or it may be a non-financial account.
  
  Solution:
  
  
  Define Currency for the Account:
  
  Go to the transaction code OBY6 (or the relevant configuration path) to check the account settings.
  Ensure that the currency is defined for the specific account in the chart of accounts.
  If necessary, add the appropriate currency to the account.
  
  
  
  Check Account Configuration:
  
  Use transaction code FS00 to display the account master data.
  Verify that the account is set up correctly and that the currency field is populated.
  
  
  
  Review Chart of Accounts:
  
  Ensure that the chart of accounts used in your company code has the correct currency settings.
  You can check this in transaction code OBD4.
  
  
  
  Data Migration Review:
  
  If the error occurred after a data migration, review the migration process to ensure that all necessary currency settings were included.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for specific guidance related to your version and configuration.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  FS00: Display/Change G/L Account Master Data
  OBY6: Define Company Code Global Parameters
  OBD4: Maintain Chart of Accounts
  
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  User Roles: Ensure that the user has the necessary permissions to view and edit account settings.
  
  By following these steps, you should be able to resolve the FQM205 error and ensure that the account in question is properly configured to handle currency transactions.