How To Fix FTE_FQM_BS001 - Currency initial: bank statement &2, item &1, bank &3, account &4

SAP Error Message - Details

• Message type: E = Error

• Message class: FTE_FQM_BS - FQM Adaptor Bank Statement

• Message number: 001

• Message text: Currency initial: bank statement &2, item &1, bank &3, account &4

Self-Explanatory Message

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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 FTE_FQM_BS001 - Currency initial: bank statement &2, item &1, bank &3, account &4 ?

  The SAP error message FTE_FQM_BS001 typically indicates an issue related to currency conversion or currency settings in the context of bank statement processing. This error can occur during the processing of bank statements when there is a mismatch or an issue with the currency settings for the bank statement items.
  Cause:
  
  Currency Mismatch: The currency of the bank statement item does not match the currency of the bank account or the currency settings in the system.
  Missing Currency Configuration: The currency for the bank account may not be properly configured in the system.
  Exchange Rate Issues: There may be missing or incorrect exchange rates for the currencies involved.
  Bank Statement Format: The format of the bank statement may not be compatible with the expected currency settings in SAP.
  
  Solution:
  
  
  Check Currency Settings:
  
  Verify the currency settings for the bank account in the SAP system. Ensure that the currency of the bank statement matches the currency of the bank account.
  Go to the bank account configuration and check the currency settings.
  
  
  
  Review Bank Statement:
  
  Inspect the bank statement for any discrepancies in currency. Ensure that the currency codes are correct and consistent.
  
  
  
  Exchange Rate Maintenance:
  
  Check if the necessary exchange rates are maintained in the system. You can do this by navigating to the transaction code OB08 (Maintain Exchange Rates) and ensuring that the rates for the relevant currencies are set up correctly.
  
  
  
  Bank Statement Processing:
  
  If you are using a specific format for bank statements (like MT940, BAI, etc.), ensure that the format is correctly configured in SAP and that it is compatible with the currency settings.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to bank statement processing and currency handling for any additional guidance or known issues.
  
  
  
  Testing:
  
  After making the necessary adjustments, try reprocessing the bank statement to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FF67 (Import Electronic Bank Statement) and OB52 (Open and Close Posting Periods) for managing bank statements and periods.
  SAP Notes: Check SAP Notes for any specific patches or updates related to bank statement processing and currency handling.
  User Roles: Ensure that the user processing the bank statement has the necessary authorizations to perform the required actions.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in financial accounting and bank statement processing.