How To Fix KT274 - Group currency is not defined in client &V1&

SAP Error Message - Details

• Message type: E = Error

• Message class: KT - RK Message Table Maintenance

• Message number: 274

• Message text: Group currency is not defined in client &V1&

What causes this issue?

You want to use group currency (currency type "30"). Group currency is
not defined for client &V1&.

System Response

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

How to fix this error?

Change the currency type, or assign the group currency to the client.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KT274 - Group currency is not defined in client &V1& ?

  The SAP error message KT274, which states "Group currency is not defined in client &V1&," typically occurs when you are trying to perform a transaction that requires a group currency, but the group currency has not been set up in the client configuration.
  Cause:
  
  Missing Group Currency Configuration: The primary cause of this error is that the group currency has not been defined in the client settings. This can happen if the client was newly created or if the configuration was not completed properly.
  Incorrect Company Code Settings: The company code may not have the correct settings for group currency, which can lead to this error when trying to execute transactions that involve group currency.
  
  Solution:
  To resolve the KT274 error, you need to ensure that the group currency is defined in the client settings. Here are the steps to do this:
  
  
  Define Group Currency:
  
  Go to the SAP Easy Access screen.
  Navigate to Transaction Code: OB22 (or use the path: SPRO > Financial Accounting > General Ledger > Master Data > G/L Accounts > Prepare G/L Accounts for Posting).
  In the configuration screen, check if the group currency is defined for your client. If not, you will need to define it.
  You may need to set the group currency for the company code as well. This can be done in the company code settings.
  
  
  
  Check Company Code Settings:
  
  Use transaction code OBY6 to check the settings for your company code.
  Ensure that the group currency is specified correctly. If it is missing, you can add it.
  
  
  
  Transport Changes: If you are working in a development environment and the changes need to be transported to production, ensure that the transport requests are created and released properly.
  
  
  Consult Documentation: If you are unsure about the correct group currency to use, consult your financial team or refer to your organization's financial documentation.
  
  
  Related Information:
  
  Group Currency: This is typically used for reporting purposes and is often set to a currency that is common across multiple company codes or entities within a corporate group.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB22, OBY6, and others related to financial configuration.
  SAP Notes: Check SAP Notes for any specific issues or updates related to this error message, as there may be patches or updates that address similar issues.
  
  By following these steps, you should be able to resolve the KT274 error and ensure that the group currency is properly defined in your SAP client.