How To Fix ICC-FI005 - Local currency used for item (&1) is incorrect

SAP Error Message - Details

• Message type: E = Error

• Message class: ICC-FI - Dunning (Sweden)

• Message number: 005

• Message text: Local currency used for item (&1) is incorrect

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message ICC-FI005 - Local currency used for item (&1) is incorrect ?

  The SAP error message ICC-FI005 indicates that there is an issue with the local currency used for a specific item in a financial transaction. This error typically arises when the currency specified for a line item does not match the expected local currency settings in the system.
  
  Cause:
  
  Incorrect Currency Configuration: The local currency for the item may not be set up correctly in the system.
  Master Data Issues: The master data for the vendor, customer, or material may have an incorrect currency assigned.
  Transaction Currency Mismatch: The currency used in the transaction does not match the local currency defined in the company code or the relevant financial document.
  Currency Type Settings: The currency type settings in the configuration may not align with the transaction being processed.
  
  
  Solution:
  
  
  Check Company Code Settings: Verify that the local currency for the company code is correctly defined in the configuration. You can do this by navigating to:
  
  Transaction Code: OB22
  Ensure that