How To Fix /PM0/ABP_CURR_CONV021 - &1: Local currency can only be transferred for multi-currency policies

SAP Error Message - Details

• Message type: E = Error

• Message class: /PM0/ABP_CURR_CONV -

• Message number: 021

• Message text: &1: Local currency can only be transferred for multi-currency policies

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message /PM0/ABP_CURR_CONV021 - &1: Local currency can only be transferred for multi-currency policies ?

  The SAP error message /PM0/ABP_CURR_CONV021 &1: Local currency can only be transferred for multi-currency policies typically occurs in the context of SAP's Policy Management or Financial Services modules, particularly when dealing with currency conversions for insurance policies or financial transactions.
  Cause:
  This error indicates that there is an attempt to transfer or process a local currency for a policy that is not set up as a multi-currency policy. In SAP, multi-currency policies allow for transactions in different currencies, while single-currency policies are restricted to a single currency. If you try to perform an operation that involves local currency on a policy that is not configured for multi-currency, this error will be triggered.
  Solution:
  To resolve this error, consider the following steps:
  
  
  Check Policy Configuration:
  
  Verify the configuration of the policy in question. Ensure that it is set up as a multi-currency policy if you intend to use local currency transactions.
  You can check the policy settings in the relevant transaction code (e.g., in the Policy Management module).
  
  
  
  Adjust Currency Settings:
  
  If the policy should indeed be a multi-currency policy, you may need to adjust the settings to enable multi-currency functionality. This may involve changing the policy type or updating the currency settings.
  
  
  
  Review Transaction Data:
  
  Ensure that the transaction data being processed is appropriate for the policy type. If the policy is single-currency, ensure that all transactions are in the same currency as the policy.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific guidance on configuring multi-currency policies and understanding the implications of currency settings.
  
  
  
  Contact Support:
  
  If you are unable to resolve the issue through configuration changes, consider reaching out to your SAP support team or consulting with an SAP expert who can provide more tailored assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes in SAP for policy management, such as IP01 (Create Policy), IP02 (Change Policy), and IP03 (Display Policy).
  SAP Notes: Check for any SAP Notes related to currency handling in policy management, as there may be specific patches or updates that address known issues.
  User Roles and Permissions: Ensure that you have the necessary permissions to make changes to policy configurations, as restrictions may prevent you from modifying certain settings.
  
  By following these steps, you should be able to identify the root cause of the error and implement a solution to resolve it.