How To Fix KF111 - Foreign currency key and exchange rate are incompatible

SAP Error Message - Details

• Message type: E = Error

• Message class: KF -

• Message number: 111

• Message text: Foreign currency key and exchange rate are incompatible

What causes this issue?

The entries in the fields "Foreign currency key" and "Exchange rate"
are incompatible.

System Response

The system cannot accept these entries.

How to fix this error?

You can only enter an exchange rate if a currency other than the
operating concern currency was entered as the foreign currency key.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KF111 - Foreign currency key and exchange rate are incompatible ?

  The SAP error message KF111, which states "Foreign currency key and exchange rate are incompatible," typically occurs in the context of financial transactions involving foreign currencies. This error indicates that there is a mismatch between the currency key used in a transaction and the exchange rate that is being applied.
  Causes of Error KF111
  
  Currency Key Mismatch: The currency key specified in the transaction does not match the currency key for which the exchange rate is defined.
  Missing Exchange Rate: The exchange rate for the specified currency pair may not be maintained in the system.
  Incorrect Exchange Rate Type: The exchange rate type being used may not be appropriate for the transaction.
  Configuration Issues: There may be configuration issues in the currency settings or exchange rate maintenance in the SAP system.
  Transaction Type: The transaction type may not support the currency or exchange rate being used.
  
  Solutions to Error KF111
  
  
  Check Currency Keys: Verify that the currency key used in the transaction matches the currency key for which the exchange rate is defined. Ensure that the correct currency is being used.
  
  
  Maintain Exchange Rates:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) to check if the exchange rate for the relevant currency pair is maintained.
  If not, add the necessary exchange rate for the currency pair.
  
  
  
  Verify Exchange Rate Type:
  
  Ensure that the correct exchange rate type is being used for the transaction. You can check this in the configuration settings or in the transaction itself.
  
  
  
  Review Configuration:
  
  Check the configuration settings related to currencies and exchange rates in the SAP system. This can include settings in the Financial Accounting (FI) module or the controlling (CO) module.
  
  
  
  Transaction Type Compatibility: Ensure that the transaction type you are using is compatible with the currencies and exchange rates involved.
  
  
  Consult Documentation: If the issue persists, consult SAP documentation or reach out to your SAP support team for further assistance.
  
  
  Related Information
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), OBA1 (Define Exchange Rate Types), and OMRB (Maintain Exchange Rate Types for Foreign Currency Valuation).
  SAP Notes: Check for any SAP Notes related to error KF111 for additional insights or patches that may resolve the issue.
  User Roles and Authorizations: Ensure that you have the necessary authorizations to view and maintain exchange rates and currency settings.
  
  By following these steps, you should be able to identify and resolve the cause of the KF111 error in your SAP system.