How To Fix KM059 - No local currency found for company code &

SAP Error Message - Details

• Message type: E = Error

• Message class: KM - Error messages for Profit Center Accounting

• Message number: 059

• Message text: No local currency found for company code &

What causes this issue?

In the profit center ledger, data is updated in three currencies.
Transaction currency
Currency as posted
Local currency
Currency for the relevant company code
Group currency
Currency defined for the client
The currency for company code &V1& could not be determined.

System Response

The ledger cannot be generated.

How to fix this error?

Assign a currency to company code &V1&.
<DS:TRAN.OBY6>Assign currency</>

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM059 - No local currency found for company code & ?

  The SAP error message KM059 "No local currency found for company code &" typically occurs when the system cannot find a valid local currency for the specified company code in the configuration. This can happen for various reasons, such as incorrect configuration settings or missing data.
  Cause:
  
  Missing Configuration: The company code may not have a local currency defined in the system.
  Incorrect Company Code: The company code specified in the transaction may not exist or may be incorrectly entered.
  Currency Type Issues: The currency type for the company code may not be set up correctly.
  Data Migration Issues: If data was migrated from another system, the local currency might not have been transferred correctly.
  
  Solution:
  
  
  Check Company Code Configuration:
  
  Go to the transaction code OBY6 (or SPRO -> Financial Accounting -> General Ledger Accounting -> Master Data -> G/L Accounts -> Prepare for Migration -> Define Company Code).
  Ensure that the local currency is defined for the company code in question.
  
  
  
  Verify Company Code:
  
  Double-check the company code you are using in your transaction to ensure it is correct and exists in the system.
  
  
  
  Review Currency Settings:
  
  Navigate to OB22 (or SPRO -> Financial Accounting -> Financial Accounting Global Settings -> Currencies -> Define Currencies).
  Ensure that the local currency is set up correctly for the company code.
  
  
  
  Check for Data Migration Issues:
  
  If the error occurred after a data migration, verify that all necessary currency data was migrated correctly.
  
  
  
  Consult with SAP Support:
  
  If the issue persists after checking the above configurations, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OBY6: Define Company Code
  OB22: Define Currencies
  
  
  Documentation: Refer to SAP Help documentation for detailed steps on configuring company codes and currencies.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  
  By following these steps, you should be able to resolve the KM059 error and ensure that the local currency is correctly set up for the specified company code.