How To Fix MQ454 - Define exchange rate types for historical exchange rates

SAP Error Message - Details

• Message type: E = Error

• Message class: MQ - Messages for Euro Changeover Package

• Message number: 454

• Message text: Define exchange rate types for historical exchange rates

What causes this issue?

For technical reasons it is necessary to create historical exchange
rates between the euro and other currencies before a local currency
changeover to the euro. It is crucial that corresponding entries exist.
The definite number values for these entries are
Linked to certain consistency conditions for exchange rate factors (but
arbitrary incidentally)
Practically meaningless for exchange rate values.
Before a local currency changeover begins, the system checks as a
deafult whether historical exchange rates exist for all exchange rate
types. Missing entries are created.
On the following screen, you have the option of excluding certain
exchange rate types from this check. Then historical exchange rates are
also not created for these exchange rate types.
This way you avoid loss of system performance which could be caused by
unnecessary entries in your currency Customizing.
You should, however, use this option with great caution and only
exclude an exchange rate type if you are sure that it is no longer
needed in the current system. Otherwise you run the risk of runtime
errors in your system.
Examples of exchange rate types which can be excluded are planning
exchange rates which you have created but no longer use and will never
use again.

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?

For exchange rate types which you no longer use, remove the entry from
the "Maintain histor.rates" checkbox.
You can reverse this decision later on. The missing historical exchange
rates are then created afterwards.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message MQ454 - Define exchange rate types for historical exchange rates ?

  The SAP error message MQ454, which states "Define exchange rate types for historical exchange rates," typically occurs when the system is unable to find the necessary configuration for exchange rate types that are required for processing historical exchange rates in financial transactions.
  Cause:
  The error is usually caused by one of the following reasons:
  
  Missing Configuration: The exchange rate types for historical exchange rates have not been defined in the system.
  Incorrect Settings: The settings for exchange rate types may be incorrectly configured or not aligned with the requirements of the financial transactions being processed.
  Data Entry Issues: There may be issues with the data being entered, such as incorrect currency codes or missing information.
  
  Solution:
  To resolve the MQ454 error, you can follow these steps:
  
  
  Define Exchange Rate Types:
  
  Go to the SAP Easy Access screen.
  Navigate to Transaction Code: OB08 (or use the path: SPRO > Financial Accounting > Financial Accounting Global Settings > Currencies > Define Exchange Rate Types).
  Check if the exchange rate types for historical exchange rates are defined. If not, you will need to create them.
  Ensure that the exchange rate types are correctly configured for the currencies you are working with.
  
  
  
  Check Existing Configuration:
  
  Review the existing exchange rate types to ensure they are set up correctly.
  Make sure that the exchange rate types are active and applicable for the historical data you are trying to process.
  
  
  
  Review Transaction Data:
  
  Check the transaction data for any inconsistencies or errors, such as incorrect currency codes or missing fields.
  Ensure that the transactions you are processing are using the correct exchange rate types.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for more detailed guidance on configuring exchange rates and handling historical data.
  
  
  
  Testing:
  
  After making the necessary changes, test the transaction again to ensure that the error has been resolved.
  
  
  
  Related Information:
  
  Exchange Rate Types: These are used in SAP to define how currency conversions are handled. Different types can be set for different purposes, such as average rates, historical rates, etc.
  Historical Exchange Rates: These are used for transactions that occurred in the past and require the exchange rate that was applicable at that time.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 for maintaining exchange rates and OB37 for defining exchange rate types.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in financial accounting within SAP.