How To Fix KG721 - Currency key could not be found correctly

SAP Error Message - Details

• Message type: E = Error

• Message class: KG - CO-PA Planning

• Message number: 721

• Message text: Currency key could not be found correctly

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 KG721 - Currency key could not be found correctly ?

  The SAP error message KG721, which states "Currency key could not be found correctly," typically occurs in the context of controlling (CO) or financial accounting (FI) modules when there is an issue with currency settings or configurations. Here are some potential causes, solutions, and related information for this error:
  Causes:
  
  Missing Currency Configuration: The currency key that is being referenced in a transaction or report may not be defined in the system.
  Incorrect Currency Key: The currency key used in the transaction may be misspelled or incorrect.
  Master Data Issues: The master data (such as cost centers, internal orders, etc.) may not have the correct currency assigned.
  Currency Type Issues: The currency type being used may not be set up correctly in the system.
  Data Migration Issues: If data has been migrated from another system, there may be inconsistencies in currency keys.
  
  Solutions:
  
  
  Check Currency Configuration:
  
  Go to the transaction code OB08 to check the currency settings. Ensure that the currency key in question is defined and active.
  Verify that the currency is correctly assigned to the relevant company code.
  
  
  
  Verify Master Data:
  
  Check the master data for the relevant objects (e.g., cost centers, internal orders) to ensure that they have the correct currency assigned.
  Use transaction codes like KS01 (Create Cost Center) or KO01 (Create Internal Order) to review the settings.
  
  
  
  Correct Currency Key:
  
  Ensure that the currency key used in the transaction is correct. If necessary, correct any misspellings or errors.
  
  
  
  Review Currency Types:
  
  Check the configuration of currency types in the system. Use transaction code OB22 to review and adjust currency types if needed.
  
  
  
  Data Migration Review:
  
  If the error occurred after a data migration, review the migration process to ensure that all currency keys were correctly transferred and mapped.
  
  
  
  Consult SAP Notes:
  
  Check the SAP Support Portal for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08, OB22, KS01, KO01, and others that may help in diagnosing and fixing the issue.
  SAP Documentation: Refer to SAP Help documentation for detailed information on currency configuration and master data management.
  User Roles and Authorizations: Ensure that the user encountering the error has the necessary authorizations to access and modify currency settings and master data.
  
  If the issue persists after trying the above solutions, it may be beneficial to consult with your SAP support team or reach out to SAP support for further assistance.