How To Fix VK365 - No exchange rate type with fixed rates defined for the target currency

SAP Error Message - Details

• Message type: E = Error

• Message class: VK - Pflege und Bearbeitung von Konditionen

• Message number: 365

• Message text: No exchange rate type with fixed rates defined for the target currency

What causes this issue?

The intended target currency is the currency of the European Union.
This means that fixed rates for this currency have been stored in the
system.

System Response

If the rates are not fixed, but the agreement currency has been changed
anyway, then incorrect payment values are determined for the agreement
if the rates change over the course of the agreement period.

How to fix this error?

Select the EU currency as the target currency and maintain fixed rates
for this currency.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message VK365 - No exchange rate type with fixed rates defined for the target currency ?

  The SAP error message VK365, which states "No exchange rate type with fixed rates defined for the target currency," typically occurs in the context of pricing and currency conversion in SAP. This error indicates that the system is unable to find a valid exchange rate type for the specified target currency, which is necessary for processing transactions that involve currency conversion.
  Cause:
  
  Missing Exchange Rate Type: The exchange rate type that is required for the target currency is not defined in the system.
  Incorrect Configuration: The exchange rate type may not be properly configured or may not have fixed rates defined for the target currency.
  Currency Not Supported: The target currency may not be supported in the current configuration of exchange rates.
  Data Entry Error: There may be a mistake in the data entry where the wrong currency or exchange rate type is specified.
  
  Solution:
  
  
  Check Exchange Rate Types:
  
  Go to the transaction code OB08 (Maintain Exchange Rates).
  Verify that the exchange rate type you are using is defined and has fixed rates for the target currency.
  If it is missing, you may need to create a new exchange rate entry for the required currency.
  
  
  
  Define Exchange Rate Type:
  
  If the exchange rate type does not exist, you can create it by going to Transaction Code OB07 (Define Exchange Rate Types).
  Ensure that the exchange rate type is set up correctly and that it includes fixed rates for the target currency.
  
  
  
  Check Configuration:
  
  Review the configuration settings in Transaction Code OX15 (Define Company Codes) to ensure that the company code is set up to use the correct currency and exchange rate type.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help files for detailed instructions on how to set up exchange rates and types.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test transaction to ensure that the error is resolved.
  
  
  
  Related Information:
  
  Exchange Rate Types: These are used in SAP to define how currency conversions are handled. Common types include M (average rate), G (historical rate), and others.
  Transaction Codes:
  
  OB08: Maintain Exchange Rates
  OB07: Define Exchange Rate Types
  OX15: Define Company Codes
  
  
  Currency Configuration: Ensure that all relevant currencies are properly configured in the system, including any necessary settings for foreign currency valuation.
  
  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 financials or controlling modules.