How To Fix GU204 - Enter exchange rate type for reference exchange rate

SAP Error Message - Details

• Message type: E = Error

• Message class: GU - FI-SL utilities

• Message number: 204

• Message text: Enter exchange rate type for reference exchange rate

What causes this issue?

The exchange rate type is missing for the reference exchange rate.

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 the desired exchange rate type in the input screen.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message GU204 - Enter exchange rate type for reference exchange rate ?

  The SAP error message GU204, which states "Enter exchange rate type for reference exchange rate," typically occurs when you are trying to maintain or process exchange rates in the system, but the required exchange rate type has not been specified.
  Cause:
  
  Missing Exchange Rate Type: The most common cause of this error is that the exchange rate type has not been defined in the transaction you are trying to execute.
  Configuration Issues: There may be issues in the configuration settings related to currency and exchange rates in the SAP system.
  Transaction Context: The transaction you are using may require an exchange rate type that is not set up or is not applicable for the current context.
  
  Solution:
  To resolve the GU204 error, you can follow these steps:
  
  
  Specify Exchange Rate Type:
  
  When you are in the transaction that triggered the error, look for a field where you can enter the exchange rate type. Make sure to enter a valid exchange rate type (e.g., M for average rate, B for bank buying rate, etc.).
  
  
  
  Check Configuration:
  
  Go to the configuration settings in SAP:
  
  Use transaction code OB08 to maintain exchange rates.
  Ensure that the exchange rate types you need are defined and that the rates are maintained correctly.
  
  
  Check if the exchange rate type is assigned to the relevant currency pair.
  
  
  
  Review Documentation:
  
  If you are unsure about which exchange rate type to use, refer to your organization's documentation or consult with your finance or accounting team.
  
  
  
  Consult SAP Notes:
  
  Check the SAP Support Portal for any relevant notes or updates regarding this error message. There may be specific patches or updates that address this issue.
  
  
  
  User Authorization:
  
  Ensure that you have the necessary authorizations to maintain exchange rates and that your user profile is set up correctly.
  
  
  
  Related Information:
  
  Exchange Rate Types: In SAP, exchange rate types are used to differentiate between various rates (e.g., average rate, spot rate, etc.) and are crucial for financial transactions involving multiple currencies.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  OB08: Maintain exchange rates.
  OB07: Define exchange rate types.
  
  
  Currency Configuration: Understanding how currencies and exchange rates are configured in SAP can help prevent similar issues in the future.
  
  If the problem persists after following these steps, it may be beneficial to consult with your SAP support team or a technical consultant who can provide further assistance.