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

SAP Error Message - Details

• 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.

Smart SAP Assistant

• What is the cause and solution for SAP error message KT347 - Currency and valuation profile &1 does not contain only cur. type 10 ?

  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 Data > Maintain Currency and Valuation Profiles.
  Verify that the profile assigned to your controlling area or company code only includes currency type 10.
  
  
  
  Adjust Profile Settings:
  
  If the profile includes other currency types (like 30 for group currency or 20 for hard currency), you may need to create a new profile that only includes currency type 10 or adjust the existing one.
  
  
  
  Reassign Profiles:
  
  If necessary, reassign the correct currency and valuation profile to the relevant master data (cost centers, internal orders, etc.) to ensure they are using the correct configuration.
  
  
  
  Testing:
  
  After making changes, test the transaction again to ensure that the error is resolved.
  
  
  
  Related Information:
  
  Currency Types: In SAP, different currency types are used for various purposes:
  
  10: Local currency
  20: Hard currency
  30: Group currency
  
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  OB22: For defining currency types.
  OKB9: For maintaining currency and valuation profiles.
  
  
  Documentation: Refer to SAP Help documentation for detailed information on currency and valuation profiles and their configurations.
  
  If the issue persists after checking the configuration, it may be beneficial to consult with your SAP Basis or functional consultant for further investigation.