How To Fix LQP_MSG003 - Enter only either direct or indirect exchange rate for item &1.

SAP Error Message - Details

• Message type: E = Error

• Message class: LQP_MSG - Liquidity Plan Messages

• Message number: 003

• Message text: Enter only either direct or indirect exchange rate for item &1.

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 LQP_MSG003 - Enter only either direct or indirect exchange rate for item &1. ?

  The SAP error message LQP_MSG003 indicates that there is an issue with the exchange rate configuration for a specific item in a transaction. This error occurs when both direct and indirect exchange rates are entered for the same item, which is not allowed.
  Cause:
  The error arises when:
  
  Both direct and indirect exchange rates are specified for a single item in a transaction.
  The system expects either a direct exchange rate or an indirect exchange rate, but not both.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Review the Transaction: Check the transaction where the error occurred. Identify the item that is causing the issue.
  
  
  Check Exchange Rate Entries:
  
  Navigate to the relevant exchange rate settings for the item.
  Ensure that only one type of exchange rate (either direct or indirect) is entered for that item.
  
  
  
  Adjust the Exchange Rate:
  
  If both rates are present, remove one of them based on your business requirements.
  If you need to use a direct exchange rate, ensure that the indirect exchange rate is cleared, and vice versa.
  
  
  
  Save Changes: After making the necessary adjustments, save the changes and try processing the transaction again.
  
  
  Testing: It’s a good practice to test the transaction after making changes to ensure that the error is resolved.
  
  
  Related Information:
  
  
  Exchange Rate Types: Understand the difference between direct and indirect exchange rates:
  
  Direct Exchange Rate: The rate at which one currency can be exchanged for another directly.
  Indirect Exchange Rate: The rate that is derived from a third currency (e.g., using a base currency).
  
  
  
  Configuration Settings: Familiarize yourself with the configuration settings in SAP related to currency and exchange rates. This can usually be found in the SAP customizing (SPRO) under Financial Accounting or Logistics settings.
  
  
  Documentation: Refer to SAP documentation or help files for more detailed information on handling currency and exchange rates.
  
  
  SAP Notes: Check for any relevant SAP Notes that might address this specific error or provide additional guidance.
  
  
  By following these steps, you should be able to resolve the LQP_MSG003 error and proceed with your transaction successfully.