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

SAP Error Message - Details

• 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 up correctly, leading to the use of an inappropriate currency type.
  
  Solution:
  
  
  Check Currency Type Configuration: Review the configuration of the currency types in your SAP system. Ensure that the currency type you are using is appropriate for the transaction you are processing.
  
  Navigate to the configuration settings for currency types in the SAP system (usually found in the Financial Accounting (FI) module).
  Verify that the currency type is set up correctly and is intended for the type of currency you are working with.
  
  
  
  Use Correct Currency Type: If the currency type is indeed meant for non-participating currencies, switch to a currency type that is compatible with participating currencies for the transaction you are processing.
  
  
  Review Transaction Settings: Check the settings of the transaction or document you are trying to process. Ensure that it is set up to accept the currency type you are using.
  
  
  Master Data Review: Ensure that the master data for the relevant accounts, vendors, or customers is correctly set up to use the appropriate currency types.
  
  
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on currency types and their configurations.
  
  
  Related Information:
  
  Currency Types in SAP: Currency types in SAP are used to define how currencies are treated in financial transactions. Common currency types include:
  
  10: Transaction currency
  20: Group currency
  30: Hard currency
  40: Index currency
  
  
  Participating vs. Non-Participating Currencies: Participating currencies are those that are actively traded and recognized in the financial system, while non-participating currencies may be restricted or not widely used.
  SAP Notes and Support: If the issue persists, consider checking SAP Notes for any known issues or patches related to currency types and error MQ624. You can also reach out to SAP support for further assistance.
  
  By following these steps, you should be able to resolve the MQ624 error and ensure that the correct currency types are being used in your transactions.