1K704 - Bank Area &1 Acct &2 Cert. No &3:No rate found to convert &4 to Euro

SAP Error Message - Details

• Message type: E = Error

• Message class: 1K - BCA: Account Type

• Message number: 704

• Message text: Bank Area &1 Acct &2 Cert. No &3:No rate found to convert &4 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 1K704 - Bank Area &1 Acct &2 Cert. No &3:No rate found to convert &4 to Euro ?

  The SAP error message 1K704 indicates that there is an issue with currency conversion related to a specific bank area, account, and certificate number. The message states that no exchange rate was found to convert a specified amount to Euro. Here’s a breakdown of the cause, potential solutions, and related information:
  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. This can happen if:
  
  The exchange rate has not been maintained in the system.
  The exchange rate is outdated or not valid for the date of the transaction.
  The currency pair (the currency you are converting from and Euro) is not supported.
  
  
  
  Incorrect Configuration: There may be issues with the configuration of the bank area or account settings that prevent the system from finding the correct exchange rate.
  
  
  Date Issues: The date of the transaction may fall outside the range of valid exchange rates.
  
  
  Solutions:
  
  
  Maintain Exchange Rates:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) in SAP.
  Check if the exchange rate for the currency you are trying to convert to Euro is maintained.
  If not, add the necessary exchange rate for the relevant currency pair and ensure it is valid for the date of the transaction.
  
  
  
  Check Validity Dates:
  
  Ensure that the exchange rate you are trying to use is valid for the date of the transaction. If the rate is not valid, you may need to update it or add a new rate.
  
  
  
  Review Bank Area and Account Configuration:
  
  Check the configuration of the bank area and the specific account to ensure that they are set up correctly to handle currency conversions.
  
  
  
  Transaction Date:
  
  Verify the transaction date and ensure it aligns with the valid exchange rates in the system.
  
  
  
  Consult Documentation:
  
  If the issue persists, consult SAP documentation or reach out to your SAP support team for further assistance.
  
  
  
  Related Information:
  
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  OB08: For maintaining exchange rates.
  FB03: To view document details and check the currency involved.
  FBL1N: To view vendor line items, which may help in understanding the context of the error.
  
  
  
  Currency Configuration: Ensure that the currency settings in your SAP system are correctly configured, including the currency types and their relationships.
  
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance.
  
  
  By following these steps, you should be able to resolve the error message 1K704 and ensure that currency conversions are processed correctly in your SAP system.