How To Fix FR585 - Valuation area &1 has currency type &2; not permitted for translation

SAP Error Message - Details

• Message type: E = Error

• Message class: FR - Messages for FI Reporting

• Message number: 585

• Message text: Valuation area &1 has currency type &2; not permitted for translation

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FR585 - Valuation area &1 has currency type &2; not permitted for translation ?

  The SAP error message FR585 indicates that there is an issue with the currency type used in the valuation area during a translation process. This error typically arises in the context of financial reporting or when performing currency translations in SAP.
  Cause:
  The error message FR585 is triggered when:
  
  The valuation area (which could be a company code, plant, or other organizational unit) is set up with a currency type that is not allowed for the translation process.
  The currency type specified in the configuration does not match the expected currency types for the translation.
  There may be inconsistencies in the configuration of currency types in the system, such as missing or incorrectly defined currency types.
  
  Solution:
  To resolve the FR585 error, you can take the following steps:
  
  
  Check Currency Type Configuration:
  
  Go to the configuration settings for the valuation area in question.
  Verify the currency types assigned to the valuation area. Ensure that the currency type is valid for translation.
  
  
  
  Review Translation Settings:
  
  Check the translation settings in the SAP system. This can be done in the transaction code OB08 (for exchange rates) or in the relevant configuration area for currency translation.
  Ensure that the currency types used in the translation process are correctly defined and that the necessary exchange rates are maintained.
  
  
  
  Adjust Valuation Area Settings:
  
  If the valuation area is incorrectly set up, you may need to adjust its settings to use a permitted currency type.
  You can do this in the configuration menu under Financial Accounting (FI) > General Ledger Accounting > Master Data > G/L Accounts > Prepare for Migration.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to currency types and translations to ensure compliance with best practices.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test run of the translation process to ensure that the error is resolved.
  
  
  
  Related Information:
  
  Currency Types in SAP: Currency types are defined in the system to categorize different currencies used in financial transactions. Common currency types include:
  
  10: Company code currency
  30: Group currency
  40: Hard currency
  
  
  Transaction Codes:
  
  OB08: Maintain exchange rates
  OBAA: Define currency types
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to currency types and translations.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP's support portal for further assistance.