How To Fix KK497 - No price exists in the transaction currency

SAP Error Message - Details

• Message type: E = Error

• Message class: KK -

• Message number: 497

• Message text: No price exists in the transaction currency

What causes this issue?

There is no price in transaction currency &v1& for the base object item
or the material item that you entered.

System Response

The price in transaction currency is calculated from the price in CO
area currency. The currency translation is made at the exchange rate
entered in the cost estimate header.

How to fix this error?

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KK497 - No price exists in the transaction currency ?

  The SAP error message KK497: No price exists in the transaction currency typically occurs in the context of controlling (CO) when you are trying to perform a transaction that requires a price for a cost object (like a cost center, internal order, or project) in the specified transaction currency, but no price has been defined for that object in that currency.
  Causes:
  
  Missing Price Definition: The most common cause is that the price for the cost object has not been defined in the transaction currency you are using.
  Currency Conversion Issues: If the price exists in a different currency but not in the transaction currency, and there are issues with currency conversion settings, this error may occur.
  Incorrect Configuration: The configuration settings for pricing in the controlling module may not be set up correctly.
  Data Entry Errors: There may be a mistake in the data entry, such as selecting the wrong cost object or transaction currency.
  
  Solutions:
  
  
  Define Prices: Ensure that the necessary prices are defined for the cost object in the transaction currency. This can typically be done in the following ways:
  
  For internal orders, you can maintain the price in the order master data.
  For cost centers, you can maintain the price in the cost center master data.
  For projects, you can maintain the price in the project definition.
  
  
  
  Check Currency Settings: Verify that the currency settings in your SAP system are correctly configured. Ensure that the currency conversion settings are appropriate and that the necessary exchange rates are maintained.
  
  
  Review Configuration: Check the configuration settings in the controlling module to ensure that pricing is set up correctly. This may involve reviewing the settings in transaction codes like OKKP (Control Parameters) or OKTZ (Maintain Price Determination).
  
  
  Data Validation: Double-check the data you are entering to ensure that you are using the correct cost object and transaction currency. 
  
  
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on maintaining prices and handling currency issues in your version of SAP.
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  KP26: Change Plan Prices
  KSB1: Display Actual Line Items
  OKTZ: Maintain Price Determination
  
  
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles: Ensure that you have the necessary authorizations to maintain prices and perform transactions in the controlling module.
  
  If the issue persists after trying the above solutions, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in the controlling module.