1K702 - Bank Area &1 Account &2 : No rate found to convert &3 to Euro

SAP Error Message - Details

• Message type: E = Error

• Message class: 1K - BCA: Account Type

• Message number: 702

• Message text: Bank Area &1 Account &2 : No rate found to convert &3 to Euro

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

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AnswerBot

• What is the cause and solution for SAP error message 1K702 - Bank Area &1 Account &2 : No rate found to convert &3 to Euro ?

  The SAP error message 1K702 indicates that there is no exchange rate available to convert a specified amount from one currency to Euro in the context of a bank area and account. This typically occurs during financial transactions that involve currency conversion, such as when processing payments or managing bank accounts in different currencies.
  Cause:
  
  Missing Exchange Rate: The primary cause of this error is that there is no exchange rate defined in the system for the currency you are trying to convert to Euro.
  Date Issues: The exchange rate may not be available for the specific date of the transaction. Exchange rates in SAP are often date-sensitive.
  Configuration Issues: The currency conversion settings in the SAP system may not be properly configured, or the relevant currency pair may not be activated.
  Bank Area Configuration: The bank area or account may not be set up correctly to handle the currency conversion.
  
  Solution:
  
  
  Check Exchange Rates:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) in SAP.
  Verify if there is an exchange rate defined for the currency you are trying to convert to Euro for the relevant date.
  If not, you can enter the required exchange rate.
  
  
  
  Update Exchange Rates:
  
  If the exchange rate is missing, you may need to update it. Ensure that you have the correct rates for the relevant currencies and dates.
  
  
  
  Review Configuration:
  
  Check the configuration settings for currency conversion in your SAP system. Ensure that the currency pair is activated and that the bank area is set up correctly.
  You may need to consult with your SAP FI (Financial Accounting) consultant or system administrator for assistance.
  
  
  
  Check Transaction Date:
  
  Ensure that the transaction date falls within the range of dates for which the exchange rate is valid.
  
  
  
  Test with Different Currencies:
  
  If possible, test the conversion with different currencies to see if the issue is isolated to a specific currency pair.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OB08: Maintain Exchange Rates
  FB50: General Ledger Account Document Entry (to test the transaction)
  
  
  Documentation: Refer to SAP Help documentation for more details on currency conversion and exchange rate maintenance.
  User Roles: Ensure that you have the necessary authorizations to maintain exchange rates and perform financial transactions.
  
  If the issue persists after checking the above points, it may be beneficial to consult with your SAP support team or a technical consultant for further investigation.