How To Fix H1101 - A (standard) currency has not been defined for the period from &1 to &2

SAP Error Message - Details

• Message type: E = Error

• Message class: H1 - Messages Used in HR Funds and Position Management

• Message number: 101

• Message text: A (standard) currency has not been defined for the period from &1 to &2

What causes this issue?

In the period from &v1& to &v2&, the currency defined in table 'T7PM2'
changes. You cannot change the currency during a financial year.

System Response

The action cannot be performed.

How to fix this error?

Please define a standard currency in current settings (<ls>Define
Budget Currency</> for the period from &v1& to &v2&, or contact your
system administrator.

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

<DS:TRAN.OOP1>Current Settings</>

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message H1101 - A (standard) currency has not been defined for the period from &1 to &2 ?

  The SAP error message H1101 indicates that a standard currency has not been defined for a specific period in the system. This error typically arises when you are trying to perform a transaction that requires a standard currency setting, but the system cannot find the necessary configuration for the specified period.
  Cause:
  
  Missing Configuration: The standard currency (usually the company code currency) has not been defined for the specified period in the controlling area or company code settings.
  Period Settings: The period you are trying to access may not have been properly configured in the system, leading to the absence of a standard currency.
  Data Migration Issues: If data has been migrated from another system, there may be gaps in the currency settings for certain periods.
  
  Solution:
  
  
  Define Standard Currency:
  
  Go to the transaction code OB22 (or navigate through the menu: Financial Accounting > General Ledger > Master Data > G/L Accounts > Edit G/L Account Centrally).
  Check the settings for the relevant company code and controlling area.
  Ensure that the standard currency is defined for the required periods.
  
  
  
  Check Period Settings:
  
  Use transaction code OB52 to check the open and closed posting periods for the company code.
  Ensure that the period you are trying to post to is open and that the currency settings are correctly defined.
  
  
  
  Review Configuration:
  
  Check the configuration in the controlling area (transaction code OKKP) to ensure that the currency settings are correctly defined.
  Make sure that the fiscal year variant is correctly assigned and that the currency settings are consistent across all relevant configurations.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP Basis or Finance team to ensure that all necessary configurations are in place.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Transaction Codes: OB22 (Define G/L Account), OB52 (Open/Close Posting Periods), OKKP (Controlling Area).
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to currency settings and error H1101.
  User Roles: Ensure that you have the necessary authorizations to make changes to the configuration settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or reach out to SAP support for further assistance.