How To Fix MQ624 - Currency type &1 only appears with non-participating currencies

MQ624 - Overview

• Message type: E = Error

• Message class: MQ - Messages for Euro Changeover Package

• Message number: 624

• Message text: Currency type &1 only appears with non-participating currencies

What causes this issue?

Analysis of the master data has shown that currency type &V1& is not
used in the system or that the currency type only occurs with
currencies which are not participating in the local currency
changeover.
All objects which belong to currency type &V1& never refer to a
participating currency and do not have to be changed over.
This fact is used for optimizing the local currency changeover.

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?

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message MQ624 - Currency type &1 only appears with non-participating currencies ?

  The SAP error message MQ624 indicates that there is an issue with the currency type being used in a transaction or document. Specifically, it states that the currency type you are trying to use (denoted by &1) is only applicable to non-participating currencies. This typically occurs in the context of foreign currency valuation or when dealing with currencies that are not part of the participating currencies in a specific transaction or configuration.
  
  Cause:
  
  Currency Type Misconfiguration: The currency type being used is not set up correctly in the system. It may be configured to be used only with non-participating currencies, but it is being applied in a context where a participating currency is expected.
  Transaction Type: The transaction or document you are trying to process may require a different currency type that is compatible with participating currencies.
  Master Data Issues: The master data for the relevant financial documents or accounts may not be set