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Question

The currency code is not valid in the currency rates for company 30 and currency type 2

  • January 9, 2026
  • 1 reply
  • 37 views
B
Sidekick (Customer)
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Hello, 

When posting a number of invoices, we receive the error message below. This occurs when posting invoices from contractors. Strangely enough, it does not occur with all invoices from contractors. I have checked the suppliers, projects and parts. All of them have been ruled out because other invoices from contractors contain the supplier, projects and/or parts and are posted without an error message.

I don't understand what triggers the error message, because all the currencies we use are valid in the Currency Rates screen. Are you familiar with this message and do you have a solution for it?

The error occurs when we do Purchasing > Match PO Receipts in the menu Posting Proposal.

 

We are on Apps10 Update 29. 

Kind regards, Simon

    1 reply

    T
    Superhero (Employee)
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    • Thomas Peterson
    • Superhero (Employee)
    • January 9, 2026

    Hi, 

    The following screen is IFS Cloud 25R1.   Note this is a company by company setting, as well as currency code and rate type.  In your error message, check your company 30, rate type 2, for the EUR currency. 

    See the valid from for the rate.  Per this record, EUR has a valid rate dating back to 1999.   You may have many rates, each with a valid until, however IFS needs a rate that is older than you may expect. 

    When processing transactions, IFS tests to see if you have a rate for a given date.  In some areas of IFS (for example purchasing) multiple dates can be available on the purchase order. In many cases these dates can be far earlier than today.   You need a currency rate that covers those older dates. 

    Even though IFS may post a transaction today with today's rate, I’ve seen many example like this where the IFS logic tests currency rates farther back in time. - Example if using backward scheduling IFS may set a date far older than you may expect. 

    The suggestion, is provided you're not posting transactions with historical rates that must be correct for a given date, have a record similar to this where the date goes back in time, as old or older than any dates for that transaction.  For example, assume you start using IFS 2022.   The PO can have dates older than 2022.  Consider using a date on the currency rate valid from like 1/1/2010.   Theoretically, IFS would never post using that rate as your actual rates would be from more recent dates.   However, the transaction would be allowed - no error, as that 2010 is likely to be older than any date you have on the PO. 

    Essentially, set a rate valid from as very old, and the error will go away. By very old, I suggest a rate years before any possible dates for a given transaction. 

    Best regards, 

    Thomas

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