How To Fix KM192 - No currency defined for company code for CO object &1

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 192

• Message text: No currency defined for company code for CO object &1

What causes this issue?

For CO object &V1&, there is work in process in controlling area
currency &V3&, though not in company code currency &V4&.
As the controlling area currency is different to the company code
currency, it could be that
variances have occurred due to currency fluctuations,
rounding differences have occurred,
inconsistent data records exist, where the company code currency
wrongly reads 0.

System Response

No value can be taken over for the company code currency. If the
controlling area currency is not stored in Profit Center Accounting, no
work in process will be taken over to Profit Center Accounting. If the
currency of the controlling area is used in Profit Center Accounting as
a third currency (report currency), the following WIP balance will be
taken over in this currency:
&V2& &V3&

How to fix this error?

Make sure that the WiP determined for the object is correct.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM192 - No currency defined for company code for CO object &1 ?

  The SAP error message KM192 "No currency defined for company code for CO object &1" typically occurs in the context of controlling (CO) when you are trying to post a transaction or perform an operation that requires a currency definition for a specific company code. This error indicates that the system cannot find a currency setting for the specified company code related to the controlling object (like a cost center, internal order, etc.).
  Cause:
  
  Missing Currency Configuration: The company code does not have a currency defined in the controlling area settings.
  Incorrect Company Code Assignment: The controlling object may not be correctly assigned to the company code.
  Master Data Issues: The master data for the controlling object may not be properly set up, leading to the absence of currency information.
  Configuration Errors: There may be issues in the configuration of the controlling area or company code settings.
  
  Solution:
  To resolve the KM192 error, you can follow these steps:
  
  
  Check Company Code Settings:
  
  Go to the transaction code OBY6 (or navigate through the menu: SPRO > Financial Accounting > General Settings > Define Company Code).
  Ensure that the company code is correctly defined and that a currency is assigned.
  
  
  
  Check Controlling Area Settings:
  
  Use transaction code OKKP to check the controlling area settings.
  Ensure that the controlling area is assigned to the correct company code and that the currency is defined.
  
  
  
  Review Master Data:
  
  Check the master data for the controlling object (e.g., cost center, internal order) using the relevant transaction codes (e.g., KS01 for cost centers).
  Ensure that the controlling object is assigned to the correct company code and that it has the necessary currency settings.
  
  
  
  Configuration Review:
  
  If you have access to configuration, review the settings in the controlling area and company code to ensure they are correctly set up.
  Check for any inconsistencies or missing entries in the configuration.
  
  
  
  Consult Documentation:
  
  If you are unsure about the settings, refer to SAP documentation or consult with your SAP Basis or FI/CO consultant for assistance.
  
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OBY6 - Define Company Code
  OKKP - Controlling Area Settings
  KS01 - Create Cost Center
  KO01 - Create Internal Order
  
  
  
  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 view and modify the settings related to company codes and controlling areas.
  
  
  By following these steps, you should be able to identify and resolve the issue causing the KM192 error in SAP.