How To Fix IDFIHU104 - Enter opening rate for rate type &

SAP Error Message - Details

• Message type: E = Error

• Message class: IDFIHU - FI Developments for Hungary

• Message number: 104

• Message text: Enter opening rate for rate type &

What causes this issue?

You have not specified an opening exchange rate for the corresponding
rate type.

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?

Before you start using the <DS:REPN.RFCASH_HU_AVP>Exchange Rate
Calculation for Cash Journal</> report, you need to calculate the
opening exchange rate with the corresponding exchange rate type and
maintain it in the Customizing activity
<DS:SIMG.SIMG_CFMENUORFBOB08>Enter Exchange Rates</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message IDFIHU104 - Enter opening rate for rate type & ?

  The SAP error message IDFIHU104, which states "Enter opening rate for rate type &," typically occurs in the context of financial transactions, particularly when dealing with foreign currency valuations or exchange rates in SAP. This error indicates that the system requires an opening exchange rate for a specified rate type, but it has not been provided.
  Cause:
  
  Missing Exchange Rate: The primary cause of this error is that the opening exchange rate for the specified rate type has not been maintained in the system.
  Incorrect Configuration: There may be a configuration issue where the rate type is not properly set up in the system.
  Data Entry Error: The user may have overlooked entering the required opening rate during the setup or transaction process.
  
  Solution:
  
  
  Maintain Exchange Rates:
  
  Go to the transaction code OB08 (or the relevant transaction for maintaining exchange rates).
  Check if the opening exchange rate for the specified rate type is maintained for the relevant currency pair.
  If it is missing, enter the appropriate opening rate for the required date.
  
  
  
  Check Rate Type Configuration:
  
  Ensure that the rate type you are using is correctly configured in the system.
  You can check the configuration in the transaction code OB07 to see if the rate type is active and properly set up.
  
  
  
  Review Transaction Data:
  
  If you are entering data for a specific period, ensure that the opening rate is entered for the correct fiscal year and period.
  Verify that the currency and rate type match what is expected in the transaction.
  
  
  
  Consult Documentation:
  
  If you are unsure about the correct rates or configurations, consult your organization's financial documentation or reach out to your finance team for guidance.
  
  
  
  Related Information:
  
  Rate Types: In SAP, rate types are used to define how exchange rates are applied. Common rate types include M (average rate), G (historical rate), and others.
  Currency Valuation: This error often arises during currency valuation processes, where the system needs to calculate the value of foreign currency transactions.
  SAP Help Portal: For more detailed information, you can refer to the SAP Help Portal or the specific documentation related to your version of SAP.
  
  By following these steps, you should be able to resolve the IDFIHU104 error and ensure that the necessary opening rates are correctly maintained in your SAP system.