How To Fix ME566 - Exchange rate type & not defined

ME566 - Overview

• Message type: E = Error

• Message class: ME - Purchasing: General Messages

• Message number: 566

• Message text: Exchange rate type & not defined

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.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message ME566 - Exchange rate type & not defined ?

  The SAP error message ME566, which states "Exchange rate type & not defined," typically occurs when the system is unable to find a specified exchange rate type in the configuration. This can happen in various scenarios, such as when processing purchase orders, invoices, or other transactions that involve currency conversion.
  
  Cause:
  
  Missing Exchange Rate Type: The specified exchange rate type is not defined in the system.
  
  Configuration Issues: The exchange rate type may not be properly configured in the system settings.
  Incorrect Currency Settings: The currency settings in the document or transaction may not match the available exchange rate types.
  User Authorization: The user may not have the necessary permissions to access the exchange rate type.
  
  
  Solution:
  
  
  Define the Exchange Rate Type:
  
  Go to the SAP transaction code OB08 (Maintain Exchange Rates).
  Check if the exchange rate type mentioned in the error message is defined. If not, you can create it or modify existing entries.
  
  
  
  Check Configuration:
  
  Use transaction code OB07