How To Fix KK698 - Do not enter both an exchange rate and an exchange rate date/type

SAP Error Message - Details

• Message type: E = Error

• Message class: KK -

• Message number: 698

• Message text: Do not enter both an exchange rate and an exchange rate date/type

What causes this issue?

You have changed the exchange rate and the exchange rate date and/or
the exchange rate type at the same time.

System Response

The system cannot convert the currency.

How to fix this error?

Enter either just the exchange rate or just the exchange rate
date and/or type.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KK698 - Do not enter both an exchange rate and an exchange rate date/type ?

  The SAP error message KK698, which states "Do not enter both an exchange rate and an exchange rate date/type," typically occurs in the context of financial transactions or postings where currency conversion is involved. This error indicates that the system has detected conflicting information regarding the exchange rate and its associated date/type.
  Cause:
  The error arises when a user attempts to enter both an exchange rate and an exchange rate date/type in a transaction where only one of these inputs is required. In SAP, when you specify an exchange rate, the system expects that you are using a fixed rate for the transaction. Conversely, if you provide an exchange rate date/type, the system will look up the exchange rate based on that date/type from the exchange rate tables.
  Solution:
  To resolve this error, you should ensure that you are only entering one of the following:
  
  Exchange Rate: If you want to use a specific exchange rate, make sure to remove any entries for the exchange rate date/type.
  Exchange Rate Date/Type: If you want the system to determine the exchange rate based on a specific date/type, ensure that you do not enter a fixed exchange rate.
  
  Steps to Fix:
  
  Review the Input Fields: Check the fields where you have entered the exchange rate and the exchange rate date/type.
  Decide on the Method: Determine whether you want to use a fixed exchange rate or let the system calculate it based on the date/type.
  Adjust the Entries: Remove the conflicting entry (either the exchange rate or the exchange rate date/type) based on your decision.
  Re-attempt the Transaction: After making the necessary adjustments, try to process the transaction again.
  
  Related Information:
  
  Exchange Rate Types: In SAP, exchange rates can be defined in various types (e.g., M for average rate, B for bank buying rate, etc.). Make sure you are using the correct type for your transaction.
  Currency Configuration: Ensure that the currency settings in your SAP system are correctly configured, including the exchange rate tables.
  Documentation: Refer to SAP documentation or help files for more detailed information on handling currency conversions and exchange rates.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any known issues related to this error message.