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Account for currency XXX has not been created

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Posted on by Nina-m

Hello,

I am trying to run the foreign currency revaluation but posting can't be completed due to the following errors:

Account for currency USD has not been created.

Account for currency EUR has not been created.

Account for currency GBP has not been created

Account number for transaction type Exchange rate gain does not exist

Account number for transaction type Exchange rate loss does not exist

I have assigned the corresponding revaluation accounts (realized and unrealized gain/loss) to:

1. General Ledger - Ledger setup - Ledger

2. General Ledger - Currencies - Currency revaluation accounts

3. General Ledger - Posting Setup -Accounts for automatic transactions

Revaluation accounts are part of the active Account Structure however I still get the above errors while trying to post the AP, AR or GL revaluation.

Could you suggest me what could be the possible solutions?

Thanks

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Michal Krejza on at

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RE: Account for currency XXX has not been created

Hello Nina-m,

Could you please clarify your version ?

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Rahul Mohta 21,032 on at

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RE: Account for currency XXX has not been created

what is defined in the ledger for accounting currency and exchange rate type and for other currecies defined in that rate type

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SouravDam 11,730 on at

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RE: Account for currency XXX has not been created

Hello Nina-m,

Looks like; no USD, EUR and GBP currency codes are available in your system.

Is this a new system where you are trying to run the revaluation?

Is there any transactions posted in main and subledger accounts?

In recent versions what I have seen that no ISO currencies are defaulted which we used to see before. We may need to upload all these currencies and then only you will be able to set the exchange rates between them!

Once all these are done; then please check in below areas if setups are fine.

--- Account structure is set to 'Active'.

--- All main accounts available in chart of accounts are maintained in the active account structure,

--- No such main accounts have been set to suspended.

--- Chart of accounts are linked in the Ledger form.

--- Fiscal years are available and fiscal calendar is linked in the Ledger form.

--- The active account structures are linked in the Ledger form.

--- Both exchange rate types are available in the Ledger form. In case if your accounting and reporting currency exchange rate type are different, then you have to set both these rate types.

--- Set the Unrealized gain/loss and Realized gain/loss accounts in Ledger form.

--- Also set the penny difference accounts in Accounts for automatic transactions form as you already highlighted.

--- Set the currency exchange rates between the currencies.

--- Make sure you are running the revaluation within the same date ranges for which you have set the currency exchange rates between currencies.

After that run the revaluation and see if this is working. Kindly keep us posted.

Best regards,
Sourav Dam

Kindly mark this thread 'Yes' if this is answered your query which may help other community members in this forum.

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Rahul Mohta 21,032 on at

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RE: Account for currency XXX has not been created

should check the currencies and inthe exchange rate types, choose currencies needed and then use the type and FX import routine to import for them and suggest

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Nina-m 20 on at

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RE: Account for currency XXX has not been created

This is the version:

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Nina-m 20 on at

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RE: Account for currency XXX has not been created

Exchange rates are imported for the currencies which have transactions and are being evaluated. What else should be done?

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Nina-m 20 on at

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RE: Account for currency XXX has not been created

Default exchange rate type is used everywhere

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Nina-m 20 on at

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RE: Account for currency XXX has not been created

Unfortunately all your suggested setup is completed. andTransactions are posted in foreign currency. however error is displayed

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SouravDam 11,730 on at

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RE: Account for currency XXX has not been created

Hello Nina-m,

Do you mean to say that even after everything are already in place (setups, rates and accounts); still you are not able to do the revaluation and getting the same error message like what you got before?

Account for currency USD has not been created.

Account for currency EUR has not been created.

Account for currency GBP has not been created

In that case; suggestion is to create a support ticket with Microsoft.

Best regards,
Sourav Dam

Kindly mark this thread 'Yes' if this is answered your query which may help other community members in this forum.

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Nina-m 20 on at

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RE: Account for currency XXX has not been created

Hi Sourav Dam,

yes, I get the error although all setups, rates and accounts are placed

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