How To Fix FTI016 - Initial currency &1 for position &2 from contract type &3

SAP Error Message - Details

• Message type: E = Error

• Message class: FTI - Treasury Information System

• Message number: 016

• Message text: Initial currency &1 for position &2 from contract type &3

What causes this issue?

A non-initial key figure for position &V2& has a reference currency set
to its initial value (for example, local currency = " ",
position currency = " "). This is incorrect.
The position with the error belongs to the contract type &V3&.
For loans, the combination of company code/loan number is &V2&.
For securities, the combination of company code/ID number/securities
account is &V2&.
For MM/FX/DE, the combination of company code/transaction is &V2&.

System Response

The system sets the key figure affected to its initial value and
displays a corresponding message. Apart from this, it continues with
the selection.

How to fix this error?

Check the data on which the selection is based.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FTI016 - Initial currency &1 for position &2 from contract type &3 ?

  The SAP error message FTI016 typically indicates an issue related to the initial currency settings for a financial transaction or position in the context of a contract. This error can occur in various SAP modules, particularly in Financial Transaction Management (FTI) or Treasury and Risk Management (TRM).
  Cause:
  The error message FTI016 is triggered when the system cannot find or validate the initial currency for a specific position associated with a contract type. This can happen due to several reasons, including:
  
  Missing Configuration: The initial currency for the specified contract type may not be configured in the system.
  Incorrect Data Entry: There may be a typo or incorrect entry in the contract or position data.
  Inconsistent Master Data: The master data for the contract type or position may not be set up correctly, leading to discrepancies.
  Currency Settings: The currency settings in the system may not align with the expected values for the contract type.
  
  Solution:
  To resolve the FTI016 error, you can take the following steps:
  
  
  Check Configuration:
  
  Go to the configuration settings for the contract type in the SAP system.
  Ensure that the initial currency is correctly defined for the contract type in question.
  
  
  
  Review Master Data:
  
  Verify the master data for the position and contract type to ensure that all required fields, including currency, are filled out correctly.
  Check if the position is linked to the correct contract type.
  
  
  
  Data Entry Validation:
  
  Review the data entry for any typos or incorrect values that may have been inputted when creating the contract or position.
  Make sure that the currency code is valid and recognized by the system.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidelines on setting up currencies for financial transactions.
  
  
  
  System Logs:
  
  Check system logs for any additional error messages or warnings that may provide more context about the issue.
  
  
  
  Contact Support:
  
  If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes that may help in troubleshooting, such as FTI1, FTI2, or FTI3 for managing financial transactions.
  SAP Notes: Look for SAP Notes related to FTI016 for any patches or updates that may address known issues.
  User Forums: Engage with SAP community forums or user groups where similar issues may have been discussed, and solutions shared.
  
  By following these steps, you should be able to identify and resolve the cause of the FTI016 error in your SAP system.