How To Fix GP632 - Enter the exchange rate type for fiscal year &

SAP Error Message - Details

• Message type: E = Error

• Message class: GP - FI-SL and CO planning

• Message number: 632

• Message text: Enter the exchange rate type for fiscal year &

What causes this issue?

You have included a new entry for fiscal year &V1& in the table without
specifying the exchange rate type.
In the control indicators of controlling area &V2&, however, the update
of all currencies is required for fiscal year &V1&. You must therefore
enter the exchange rate type.
Valid exchange rate types are defined in table TCURV.

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?

Enter a valid exchange rate type, or
display all valid exchange rate types using the F4 function.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message GP632 - Enter the exchange rate type for fiscal year & ?

  The SAP error message GP632, which states "Enter the exchange rate type for fiscal year &," typically occurs in the context of foreign currency valuation or when dealing with exchange rates in SAP. This error indicates that the system requires an exchange rate type to be specified for a particular fiscal year, but it has not been provided.
  Cause:
  
  Missing Exchange Rate Type: The exchange rate type for the specified fiscal year has not been defined in the system.
  Configuration Issues: There may be a configuration issue in the settings related to currency translation or exchange rates.
  Data Entry Error: The user may have missed entering the required exchange rate type in the relevant transaction or configuration screen.
  
  Solution:
  To resolve the GP632 error, you can follow these steps:
  
  
  Check Exchange Rate Type Configuration:
  
  Go to the transaction code OB08 (Maintain Exchange Rates).
  Ensure that the exchange rate type is defined for the fiscal year in question. If it is missing, you will need to create or update the exchange rate type.
  
  
  
  Define Exchange Rate Type:
  
  If you need to create a new exchange rate type, you can do so in the configuration settings.
  Navigate to SPRO > Financial Accounting > Financial Accounting Global Settings > Currencies > Define Exchange Rate Types.
  Here, you can define the necessary exchange rate types and ensure they are linked to the correct fiscal years.
  
  
  
  Check Transaction Data:
  
  If you are entering data in a transaction, ensure that you have selected the appropriate exchange rate type in the relevant fields.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to currency management and exchange rates for additional guidance.
  
  
  
  User Authorization:
  
  Ensure that you have the necessary authorizations to make changes to exchange rate settings.
  
  
  
  Related Information:
  
  Exchange Rate Types: These are used to define how currency conversions are handled in SAP. Common types include M (average rate), B (bank buying rate), and G (bank selling rate).
  Fiscal Year Variants: Ensure that the fiscal year variant is correctly set up in your configuration, as this can affect how exchange rates are applied.
  Currency Valuation: If you are performing currency valuation, ensure that the valuation methods and settings are correctly configured.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any specific patches or updates related to this error message.