APP-PO-14258: No rate has been defined for this date

We had the below error while receiving multi currency PO due to missing of required dates conversion rates in the system.

APP-PO-14258: No rate has been defined for this date

Cause:-

The issue is caused by missing conversions rates between foreign currency and functional currency for the date you are receiving the PO (transaction_date)
The rate type that you have entered uses pre-defined rates. No rate has been defined for the current rate type and rate date combination.
Solution:-

Define conversions rate between foreign currency and functional currency for the date you are receiving the Purchase Order.

There are 2 possibilities

A) Define conversion rate between SAR and EUR on 22-MAY-2012
1. Go into the responsibility General Ledger

2. Navigate to daily rates form

3. Define conversion rate between SAR and EUR on 22-MAY-2012 for rate type Corporate

OR

B) When entering receipts change the Rate Date in receipts form / currency tab to a date with an existing rate

1. Go into the responsibility Purchasing

2. Navigate to Receipts form. Search for PO 2907

3. In currency tab change date to a date for which a corporate rate exists between EUR and SAR currency
(for instance 02-APR-2012 00:00:00, ie rate of purchase order level)



For more detail please go through Purchasing User Guide 11i, Entering Receipt Header Information, Page No: 7-40: