How To Fix HRTR_REC_WIZ021 - There is no exchange rate within the local currency

SAP Error Message - Details

• Message type: E = Error

• Message class: HRTR_REC_WIZ - Function Group HRTR_REC_WIZ

• Message number: 021

• Message text: There is no exchange rate within the local currency

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message HRTR_REC_WIZ021 - There is no exchange rate within the local currency ?

  The SAP error message HRTR_REC_WIZ021, which states "There is no exchange rate within the local currency," typically occurs in the context of HR (Human Resources) or payroll processing when the system is unable to find a valid exchange rate for a currency conversion that is required for a specific operation. This can happen in various scenarios, such as when processing payroll for employees who are paid in different currencies or when dealing with international assignments.
  Cause:
  
  Missing Exchange Rate: The primary cause of this error is that there is no defined exchange rate for the local currency in the system for the relevant time period.
  Incorrect Configuration: The currency settings in the system may not be configured correctly, leading to the absence of necessary exchange rates.
  Date Range Issues: The exchange rate may not be available for the specific date range being processed.
  Currency Type: The currency type being used may not have an exchange rate defined in the system.
  
  Solution:
  
  
  Define Exchange Rates:
  
  Go to the transaction code OB08 (or the relevant transaction for maintaining exchange rates).
  Check if the exchange rate for the local currency is defined for the required date range.
  If not, enter the appropriate exchange rates for the currencies involved.
  
  
  
  Check Configuration:
  
  Ensure that the currency settings in the system are correctly configured.
  Verify that the local currency is set up properly in the relevant configuration settings.
  
  
  
  Review Date Ranges:
  
  Make sure that the date range for which the payroll or HR process is being executed falls within the period for which the exchange rates are defined.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for any specific configurations related to currency and exchange rates in your version of SAP.
  
  
  
  Testing:
  
  After making changes, perform a test run of the payroll or HR process to ensure that the error is resolved.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), OBA1 (Maintain Exchange Rate Types), and others that may be useful for currency management.
  SAP Notes: Check for any SAP Notes related to this error message for additional guidance or patches that may address the issue.
  User Roles: Ensure that the user executing the transaction has the necessary authorizations to view and maintain exchange rates.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in HR or financial modules.