How To Fix IDTW_MSG002 - Local Currency should be set to 'TWD' for Company Code &1.

SAP Error Message - Details

• Message type: E = Error

• Message class: IDTW_MSG - Message class for Taiwan

• Message number: 002

• Message text: Local Currency should be set to 'TWD' for Company Code &1.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message IDTW_MSG002 - Local Currency should be set to 'TWD' for Company Code &1. ?

  The SAP error message IDTW_MSG002 indicates that the local currency for a specific company code should be set to 'TWD' (New Taiwan Dollar). This error typically arises when there is an inconsistency in the currency settings for a company code in the SAP system.
  Cause:
  
  Incorrect Company Code Configuration: The company code in question is not configured to use TWD as its local currency. This can happen if the company code was created with a different currency or if there were changes made to the currency settings that were not properly updated.
  Data Entry Errors: During data entry or configuration, the local currency might have been mistakenly set to a different value.
  Integration Issues: If there are integrations with other systems or modules, they might not be aligned with the currency settings in the SAP system.
  
  Solution:
  
  
  Check Company Code Settings:
  
  Go to the transaction code OBY6 (or navigate through the menu: SPRO > Financial Accounting > General Settings > Company Code > Define Company Code).
  Verify the local currency setting for the company code in question. Ensure that it is set to 'TWD'.
  
  
  
  Change Local Currency:
  
  If the local currency is incorrect, you may need to change it. However, changing the local currency of a company code is a complex process and may require careful planning and execution. It is generally not recommended to change the local currency after transactions have been posted.
  If you need to change it, consult with your SAP Basis or Finance team to ensure that all implications are understood and that the change is executed properly.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for guidance on how to handle currency settings and any potential impacts on financial reporting and transactions.
  
  
  
  Testing:
  
  After making any changes, perform thorough testing to ensure that the system behaves as expected and that there are no further issues related to currency settings.
  
  
  
  Related Information:
  
  Currency Types: In SAP, currencies can be defined at various levels, including company code, controlling area, and client level. Understanding these levels is crucial for proper configuration.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OBY6, OB22 (for defining currency types), and OB08 (for maintaining exchange rates).
  SAP Notes: Check for any relevant SAP Notes that may address specific issues or provide additional guidance related to currency settings and error messages.
  
  If the issue persists after following these steps, it may be necessary to engage with SAP support or a consultant who specializes in SAP Financials for further assistance.