How To Fix VAL034 - Relevant settings are missing in foreign currency valuation procedure &1

SAP Error Message - Details

• Message type: E = Error

• Message class: VAL - Treasury: Messages for General Valuation

• Message number: 034

• Message text: Relevant settings are missing in foreign currency valuation procedure &1

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message VAL034 - Relevant settings are missing in foreign currency valuation procedure &1 ?

  The SAP error message VAL034 indicates that there are missing settings in the foreign currency valuation procedure specified in the error message. This typically occurs when you attempt to perform a foreign currency valuation, but the necessary configuration for the valuation procedure is incomplete or incorrect.
  Cause:
  The error can be caused by several factors, including:
  
  
  Missing Configuration: The foreign currency valuation procedure may not be properly configured in the system. This includes missing settings for valuation methods, exchange rates, or account determination.
  
  
  Incorrect Valuation Procedure: The valuation procedure specified may not be valid for the company code or the currency being used.
  
  
  Missing or Incorrect Exchange Rate Types: The exchange rate types required for the valuation may not be defined or may not match the settings in the valuation procedure.
  
  
  Inconsistent Settings: There may be inconsistencies in the settings between different company codes or controlling areas.
  
  
  Solution:
  To resolve the VAL034 error, you can follow these steps:
  
  
  Check Valuation Procedure:
  
  Go to the transaction code OB08 to check the exchange rate types and ensure they are correctly defined.
  Use transaction code OBV2 to review the foreign currency valuation procedures and ensure that the necessary settings are in place.
  
  
  
  Configure Valuation Settings:
  
  Navigate to Transaction Code OBA1 to configure the foreign currency valuation settings.
  Ensure that the valuation method is correctly assigned to the company code and that all necessary parameters are filled out.
  
  
  
  Review Account Determination:
  
  Check the account determination settings for foreign currency valuation. This can be done in Transaction Code OBYC.
  Ensure that the accounts for the valuation are correctly assigned and that there are no missing accounts.
  
  
  
  Test the Configuration:
  
  After making the necessary changes, perform a test run of the foreign currency valuation using Transaction Code FAGL_FCV or Transaction Code F.05 to ensure that the error no longer occurs.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help files for detailed guidance on configuring foreign currency valuation procedures.
  
  
  
  Seek Help from SAP Support:
  
  If the issue persists after checking the configuration, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB08: Maintain Exchange Rates
  OBV2: Define Valuation Methods
  OBA1: Define Foreign Currency Valuation
  OBYC: Automatic Account Determination
  FAGL_FCV: Foreign Currency Valuation for General Ledger
  F.05: Foreign Currency Valuation
  
  
  
  Documentation: SAP Help Portal and SAP Notes related to foreign currency valuation can provide additional insights and troubleshooting steps.
  
  
  By following these steps, you should be able to identify and resolve the cause of the VAL034 error in your SAP system.