Error: Balances for reconciliation accounts only in local currency not defined Message No. FH061

Error Message: Balances for reconciliation accounts only in local currency not defined Message No. FH061.

Scenario: When user trying to create a Customer/Vendor Reconciliation GL Account and user getting an error saying that ‘Balances for reconciliation accounts only in local currency not defined‘.

Reason: Transactions for customer/vendor can be done in any currency in the normal course of business, that’s why we shouldn’t give tick mark for “only balances in local currency”.

Let’s remove the tick mark for – only balances in local currency.

Click on save button

Result: Issue will be resolved.

SAP FICO Configuration topics:

• SAP Finance Enterprise structure: Click here
• SAP Finance GL Accounting: Click here
• SAP Finance Accounts Payable: Click here
• SAP Finance Accounts Receivable: Click here
• SAP Finance Bank Accounting: Click here
• SAP Finance New Asset Accounting: Click here
• How to Create a Controlling area in SAP: Click here
• SAP Controlling – Cost Element Accounting: Click here
• SAP Controlling – Cost Center Accounting: Click here
• SAP Controlling – Profit Center Accounting: Click here

Error: Balances for reconciliation accounts only in local currency not defined, Message No. FH061