How To Fix KM3006 - The entered currency type &1 is not correct

SAP Error Message - Details

• Message type: E = Error

• Message class: KM3 -

• Message number: 006

• Message text: The entered currency type &1 is not correct

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 KM3006 - The entered currency type &1 is not correct ?

  The SAP error message KM3006, which states "The entered currency type &1 is not correct," typically occurs in the context of financial transactions or reporting where a currency type is expected but is either invalid or not recognized by the system.
  Cause:
  
  Invalid Currency Code: The currency code entered does not exist in the system or is not configured correctly.
  Configuration Issues: The currency type may not be set up in the relevant configuration settings (e.g., in the currency types table).
  Data Entry Error: There may be a typographical error in the currency code entered by the user.
  Missing Currency Type: The currency type may not be assigned to the relevant company code or controlling area.
  Transaction Context: The currency type may not be applicable for the specific transaction or report being processed.
  
  Solution:
  
  Check Currency Code: Verify that the currency code entered is correct. Ensure that it matches the standard ISO currency codes (e.g., USD for US Dollar, EUR for Euro).
  Configuration Review: 
  
  Go to the configuration settings in SAP (transaction code SPRO) and check the currency types under the relevant modules (e.g., Financial Accounting, Controlling).
  Ensure that the currency type is defined and active.
  
  
  Correct Data Entry: If the currency code was entered manually, double-check for any typographical errors.
  Assign Currency Type: If the currency type is missing for a specific company code or controlling area, you may need to assign it in the configuration settings.
  Consult Documentation: Review SAP documentation or help files for any specific requirements related to currency types in the context of the transaction you are performing.
  Contact Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (for maintaining exchange rates) and OX15 (for defining company codes).
  Currency Types Table: The currency types are usually maintained in the table T001 (Company Codes) and T001W (Plant Data).
  SAP Notes: Check SAP Notes for any known issues or patches related to currency types and error KM3006.
  User Roles: Ensure that the user has the necessary authorizations to perform transactions involving currency types.
  
  By following these steps, you should be able to identify and resolve the issue related to the KM3006 error message in SAP.