How To Fix /PM0/ABP_CHECKDERIVE034 - Create an exchange rate date for invoice currency for application

SAP Error Message - Details

• Message type: E = Error

• Message class: /PM0/ABP_CHECKDERIVE -

• Message number: 034

• Message text: Create an exchange rate date for invoice currency for application

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message /PM0/ABP_CHECKDERIVE034 - Create an exchange rate date for invoice currency for application ?

  The SAP error message /PM0/ABP_CHECKDERIVE034 typically indicates an issue related to the exchange rate date for an invoice currency in the context of application processing. This error can occur in various scenarios, particularly when dealing with financial transactions that involve currency conversion.
  Cause:
  
  Missing Exchange Rate: The primary cause of this error is that there is no exchange rate defined for the specific currency pair on the date required for the transaction.
  Incorrect Date: The date for which the exchange rate is being checked may not be valid or may not have an exchange rate defined in the system.
  Configuration Issues: There may be configuration issues in the currency settings or in the way exchange rates are maintained in the system.
  Transaction Type: The error may also arise if the transaction type does not support the currency conversion or if it is not set up correctly.
  
  Solution:
  
  
  Check Exchange Rates: 
  
  Go to the transaction code OB08 (Maintain Exchange Rates) and verify if the exchange rate for the required currency pair exists for the date in question.
  If it does not exist, you will need to create or update the exchange rate for that date.
  
  
  
  Verify Date: 
  
  Ensure that the date being used for the transaction is correct and falls within the range of dates for which exchange rates are maintained.
  
  
  
  Configuration Review: 
  
  Review the configuration settings related to currency and exchange rates in your SAP system. Ensure that all necessary settings are correctly configured.
  
  
  
  Transaction Type Check: 
  
  Ensure that the transaction type you are using supports the currency conversion and that it is set up correctly in the system.
  
  
  
  Consult Documentation: 
  
  Refer to SAP documentation or help resources for specific guidance related to the error message and the context in which it occurs.
  
  
  
  Contact Support: 
  
  If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 for maintaining exchange rates, OB22 for defining currency types, and OB37 for maintaining exchange rate types.
  SAP Notes: Check for any SAP Notes related to this error message, as they may provide additional insights or patches that could resolve the issue.
  Documentation: Review SAP's official documentation on currency management and exchange rate maintenance for best practices and troubleshooting steps.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.