How To Fix ME566 - Exchange rate type & not defined

SAP Error Message - Details

• 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.

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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 to check the configuration of exchange rate types.
  Ensure that the exchange rate type is correctly set up and linked to the appropriate currencies.
  
  
  
  Review Currency Settings:
  
  Verify the currency settings in the document or transaction that triggered the error.
  Ensure that the currencies involved are supported by the defined exchange rate types.
  
  
  
  User Authorization:
  
  Check if the user has the necessary authorizations to access the exchange rate type.
  Consult with your SAP security team if there are any authorization issues.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for additional guidance on exchange rate types and their configuration.
  
  
  
  Related Information:
  
  Exchange Rate Types: These are used in SAP to determine how currency conversions are handled. Common types include M (average rate), B (bank buying rate), and G (bank selling rate).
  Currency Configuration: Proper configuration of currencies and exchange rates is crucial for financial transactions in SAP.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to exchange rate types and configurations.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP community forums for further assistance.