How To Fix MQ778 - Group currency &1 from ledger &2 not yet converted using standard package

SAP Error Message - Details

• Message type: E = Error

• Message class: MQ - Messages for Euro Changeover Package

• Message number: 778

• Message text: Group currency &1 from ledger &2 not yet converted using standard package

What causes this issue?

The currency is defined using the group currency (&V1&) for ledger
&V2&. This currency has, however, not yet been converted previously
using a standard package. Ledger &V2& can therefore not be converted
before a standard conversion which takes currency &V1& into
consideration.

System Response

Error message

How to fix this error?

First convert group currency &V1& within the framework of a standard
package or change the currency definition of ledger &V2& from group
currency to ledger currency by entering the correct currency key.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message MQ778 - Group currency &1 from ledger &2 not yet converted using standard package ?

  The SAP error message MQ778 indicates that the group currency for a specific ledger has not yet been converted using the standard package. This typically occurs in the context of financial reporting and currency conversion processes within SAP, particularly when dealing with multiple currencies in financial statements.
  Cause:
  
  Currency Conversion Not Executed: The error usually arises when the necessary currency conversion process has not been executed for the specified ledger and group currency.
  Configuration Issues: There may be configuration issues in the settings for currency conversion or the standard package may not be properly set up.
  Missing Data: The required data for the conversion might be missing or incomplete, leading to the inability to perform the conversion.
  Timing Issues: The conversion process may not have been run for the current period, or it may be run after the reporting period has closed.
  
  Solution:
  
  Run Currency Conversion: Execute the currency conversion process for the specified ledger and group currency. This can typically be done through the transaction code F.05 (Foreign Currency Valuation) or FAGL_FC_VAL (for General Ledger).
  Check Configuration: Review the configuration settings for currency conversion in the SAP system. Ensure that the necessary parameters are set correctly in the configuration for Financial Accounting (FI).
  Review Data: Ensure that all necessary data for the conversion is available and complete. This includes checking for any missing entries in the ledgers or any discrepancies in the currency settings.
  Consult Documentation: Refer to SAP documentation or help resources for specific instructions on how to handle currency conversion for your version of SAP.
  Check for Updates: Ensure that your SAP system is up to date with the latest patches and updates, as there may be fixes related to currency conversion processes.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FAGL_FC_VAL for currency valuation and F.05 for foreign currency valuation.
  SAP Notes: Check SAP Notes for any known issues or additional guidance related to the MQ778 error message.
  User Roles: Ensure that the user executing the currency conversion has the necessary authorizations to perform these actions.
  Testing: After making changes or running the conversion, perform testing to ensure that the error does not reoccur and that the financial reports reflect the correct group currency values.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a consultant who specializes in SAP Financial Accounting.