How To Fix VK366 - Agreement &1: No fixed rate for conversion from &2 to &3

SAP Error Message - Details

• Message type: E = Error

• Message class: VK - Pflege und Bearbeitung von Konditionen

• Message number: 366

• Message text: Agreement &1: No fixed rate for conversion from &2 to &3

What causes this issue?

For the conversion of agreement currency into target currency, no fixed
rate with rate category EURO is stored in the system.

System Response

This can lead to unexpected payment amounts, if the rates between the
agreement and target currencies have changed over the course of the
validity period.

How to fix this error?

If the agreement currency that is taking part in European Currency
Union, maintain the fixed rates with rate category EURO.
In other cases, you should not change the agreement currency.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message VK366 - Agreement &1: No fixed rate for conversion from &2 to &3 ?

  The SAP error message VK366, which states "Agreement &1: No fixed rate for conversion from &2 to &3," typically occurs in the context of pricing and currency conversion in SAP. This error indicates that the system is unable to find a fixed exchange rate for converting between two currencies in a specific agreement or contract.
  Cause:
  
  Missing Exchange Rate: The most common cause of this error is that there is no fixed exchange rate defined in the system for the specified currency pair (from &2 to &3).
  Incorrect Currency Configuration: The currencies involved may not be properly configured in the system.
  Date Issues: The exchange rate may not be valid for the date of the transaction or agreement.
  Master Data Issues: The agreement or contract may not be set up correctly, or the relevant master data may be incomplete.
  
  Solution:
  
  
  Check Exchange Rate Table: 
  
  Go to transaction code OB08 (or the relevant transaction for maintaining exchange rates) and check if there is a fixed exchange rate defined for the currency pair in question.
  If not, you will need to enter the appropriate exchange rate for the currencies involved.
  
  
  
  Verify Currency Configuration:
  
  Ensure that both currencies are correctly configured in the system. This includes checking the currency types and ensuring they are active.
  
  
  
  Check Validity Dates:
  
  Make sure that the exchange rate is valid for the date of the transaction. If the transaction date falls outside the validity period of the exchange rate, you will need to adjust the rates accordingly.
  
  
  
  Review Agreement/Contract Setup:
  
  Check the agreement or contract (identified by &1) to ensure that all necessary details are correctly filled out and that there are no missing or incorrect entries.
  
  
  
  Consult Documentation:
  
  If you are unsure about how to proceed, consult the SAP documentation or reach out to your SAP support team for assistance.
  
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB08: Maintain Exchange Rates
  VK11: Create Condition
  VK12: Change Condition
  VK13: Display Condition
  
  
  
  Currency Types: Understand the different currency types in SAP (e.g., transaction currency, local currency, etc.) and how they affect pricing and conversion.
  
  
  Exchange Rate Types: Familiarize yourself with the different exchange rate types (e.g., M for average rate, B for bank buying rate) and their usage in pricing.
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to currency conversion and exchange rates.
  
  
  By following these steps, you should be able to resolve the VK366 error and ensure that your currency conversions are functioning correctly in SAP.