How To Fix KT347 - Currency and valuation profile &1 does not contain only cur. type 10

KT347 - Overview

• Message type: E = Error

• Message class: KT - RK Message Table Maintenance

• Message number: 347

• Message text: Currency and valuation profile &1 does not contain only cur. type 10

What causes this issue?

The currency and valuation profile &V1& is assigned to the controlling
area, and the controlling area has currency type 10. In this case,
additional valuations may be carried out only with currency type 10.

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?

Select a currency and valuation profile which corresponds to the
currency type in the controlling area.

Error message extract from SAP system. Copyright SAP SE.

KT347 - Details

• The SAP error message KT347 indicates that the currency and valuation profile specified in the system does not contain only currency type 10 (which is typically used for local currency). This error usually arises in the context of controlling (CO) or financial accounting (FI) when trying to perform transactions that require a specific currency type configuration.
  
  Cause:
  
  Incorrect Configuration: The currency and valuation profile assigned to the controlling area or company code may include multiple currency types, which is not allowed for certain transactions.
  Profile Assignment: The profile assigned to the master data (like cost centers, internal orders, etc.) may not be set up correctly to only include currency type 10.
  Transaction Type: The transaction you are trying to execute may require a specific currency type that is not configured in the profile.
  
  
  Solution:
  
  
  Check Currency and Valuation Profile:
  
  Go to the configuration settings in SAP (Transaction code: SPRO).
  Navigate to Controlling > Cost Center Accounting > Master