How To Fix GK545 - Exchange rate type assignment missing for exchange rate indicator &1

GK545 - Overview

• Message type: E = Error

• Message class: GK - Messages for SAP Consolidation

• Message number: 545

• Message text: Exchange rate type assignment missing for exchange rate indicator &1

What causes this issue?

<DS:GLOS.exchange_rate_indicator>Exchange rate indicator</> &V1& does
not have a valid <DS:GLOS.exchange_rate_type>exchange rate type</> for
the current time period and the current version of exchange rates.

System Response

Processing terminated

How to fix this error?

Define an exchange rate type for exchange rate indicator &V1& for the
current time period and the current version. To do this, go to Currency
Translation Customizing.

Error message extract from SAP system. Copyright SAP SE.

GK545 - Details

• The SAP error message GK545 indicates that there is a missing assignment of an exchange rate type for a specific exchange rate indicator. This typically occurs in the context of financial transactions where currency conversion is required, and the system cannot find the necessary exchange rate type to perform the conversion.
  
  Cause:
  
  Missing Configuration: The exchange rate type has not been defined or assigned in the system for the specified exchange rate indicator.
  Incorrect Settings: The settings for currency conversion in the relevant financial module (like FI, CO, etc.) may not be properly configured.
  Data Entry Error: There may be a mistake in the data entry where the exchange rate indicator is incorrectly specified or not available.
  
  
  Solution:
  
  
  Check Exchange Rate Type Configuration:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) and verify if the exchange rate type is defined for the required currency pair.
  Ensure that the exchange rate type is assigned to the relevant exchange