How To Fix /PF1/MSG_LOG_GUI221 - Foreign exchange rate submission check failed

SAP Error Message - Details

• Message type: E = Error

• Message class: /PF1/MSG_LOG_GUI -

• Message number: 221

• Message text: Foreign exchange rate submission check failed

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message /PF1/MSG_LOG_GUI221 - Foreign exchange rate submission check failed ?

  The SAP error message /PF1/MSG_LOG_GUI221 Foreign exchange rate submission check failed typically indicates an issue related to the foreign exchange rate configuration or submission process in the SAP system. This error can occur in various contexts, such as during the posting of financial documents, currency conversion, or when executing specific transactions that involve foreign currency.
  Causes:
  
  Missing Exchange Rate: The exchange rate for the currency pair involved in the transaction may not be maintained in the system.
  Incorrect Exchange Rate Type: The exchange rate type being used may not be valid or may not have been defined for the relevant date.
  Date Issues: The exchange rate may not be valid for the date of the transaction.
  Configuration Issues: There may be configuration issues in the currency settings or in the financial document settings.
  Authorization Issues: The user may not have the necessary authorizations to access or submit foreign exchange rates.
  
  Solutions:
  
  
  Check Exchange Rates:
  
  Go to transaction code OB08 to check if the exchange rates for the relevant currency pair are maintained.
  Ensure that the exchange rate type being used is correctly defined and has valid rates for the required date.
  
  
  
  Maintain Exchange Rates:
  
  If the exchange rate is missing, you can maintain it in transaction OB08. Make sure to enter the correct currency pair and the effective date.
  
  
  
  Verify Exchange Rate Type:
  
  Ensure that the correct exchange rate type is being used in the transaction. You can check this in the configuration settings or in the document itself.
  
  
  
  Check Document Date:
  
  Verify that the date of the transaction falls within the range of valid exchange rates. If necessary, adjust the date or maintain the required exchange rate.
  
  
  
  Review Configuration:
  
  Check the configuration settings related to currency and exchange rates in the SAP system. This may involve reviewing settings in the Financial Accounting (FI) module.
  
  
  
  User Authorizations:
  
  Ensure that the user has the necessary authorizations to perform transactions involving foreign exchange rates. This may require coordination with the SAP security team.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB08: Maintain Exchange Rates
  OBBS: Maintain Exchange Rate Types
  FB50: General Ledger Document Entry (to test if the error occurs during posting)
  
  
  
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message. You can search for relevant notes in the SAP Support Portal.
  
  
  Documentation: Review SAP documentation related to foreign currency valuation and exchange rate maintenance for further insights.
  
  
  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.