How To Fix INM047 - Currency conversion for &1 failed

SAP Error Message - Details

• Message type: E = Error

• Message class: INM - Message Class for Innovation Management

• Message number: 047

• Message text: Currency conversion for &1 failed

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.

Unfortunately, there isn't any extra information in this error notice.

What else can you do?

First, use our AnswerBot below to get a possible cause and solution (requires a premium subscription).

Also, review the in-depth Common Questions & Answers listed below; you could discover a solution there or be able to connect with others who have faced similar challenges.

You can also try searching the SAP support portal (support.sap.com) but you need a special user ID to access it. It is possible that an SAP support note exists that provides additional details about the mistake or even steps for fixing it.

Smart SAP Assistant

• What is the cause and solution for SAP error message INM047 - Currency conversion for &1 failed ?

  The SAP error message INM047, which states "Currency conversion for &1 failed," typically occurs in the context of currency conversion processes within SAP, particularly in modules related to financial transactions, inventory management, or logistics. The error indicates that the system was unable to perform a currency conversion for a specified amount or value.
  Causes:
  
  Missing Exchange Rate: The most common cause is that there is no exchange rate defined for the currency pair involved in the transaction.
  Invalid Currency Code: The currency code specified may be incorrect or not recognized by the system.
  Date Issues: The exchange rate may not be valid for the date of the transaction. Exchange rates are often time-sensitive.
  Configuration Issues: There may be configuration issues in the currency settings or in the financial settings of the SAP system.
  Data Entry Errors: Errors in data entry, such as incorrect amounts or currency codes, can also lead to this error.
  
  Solutions:
  
  
  Check Exchange Rates:
  
  Go to the transaction code OB08 to check if the exchange rates for the relevant currency pair are maintained.
  If not, you will need to enter the appropriate exchange rates for the required date range.
  
  
  
  Verify Currency Codes:
  
  Ensure that the currency codes used in the transaction are valid and correctly entered.
  
  
  
  Review Transaction Date:
  
  Check the date of the transaction to ensure it falls within the range of valid exchange rates.
  
  
  
  Configuration Review:
  
  Review the configuration settings related to currency conversion in the SAP system. This may involve checking the settings in the Financial Accounting (FI) or Controlling (CO) modules.
  
  
  
  Data Entry Validation:
  
  Validate the data entered in the transaction to ensure there are no typographical errors or incorrect values.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for additional guidance on currency conversion issues.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), OBA1 (Maintain Automatic Account Assignment), and others that may be relevant to currency settings.
  SAP Notes: Check for any SAP Notes related to currency conversion issues, as they may provide specific fixes or patches.
  User Authorization: Ensure that you have the necessary authorizations to view and maintain exchange rates and currency settings.
  
  If the issue persists after checking these areas, it may be beneficial to consult with your SAP support team or a technical consultant who can provide deeper insights into the specific configuration of your SAP environment.