How To Fix FR380 - 'Post in foreign curr.' and 'Foreign curr.valuation' not possible

FR380 - Overview

• Message type: E = Error

• Message class: FR - Messages for FI Reporting

• Message number: 380

• Message text: 'Post in foreign curr.' and 'Foreign curr.valuation' not possible

What causes this issue?

You selected 'post in foreign currency ' and foreign currency
valuation.
This is not allowed.

System Response

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

How to fix this error?

Decide on one of the two procedures. For more information, please
refer to the documentation of the two report parameters.

Error message extract from SAP system. Copyright SAP SE.

FR380 - Details

• The SAP error message FR380 typically indicates that there is an issue with posting in foreign currency or performing foreign currency valuation. This error can arise in various scenarios, such as during the posting of financial documents, running foreign currency valuations, or executing related transactions.
  Causes of Error FR380
  
  
  Currency Settings: The currency settings in the company code or the document may not be configured correctly. This includes the currency type, exchange rate type, or the currency itself.
  
  
  Missing Exchange Rates: The required exchange rates for the currencies involved may not be maintained in the system. This can prevent the system from converting amounts correctly.
  
  
  Document Type Restrictions: Certain document types may have restrictions on foreign currency postings. Ensure that the document type you are using allows for foreign currency transactions.
  
  
  Account Settings: The accounts involved in the transaction may not be set up to handle foreign currency. For example, some accounts may be configured