Problem: A rate not found error occurs in the Cash Manager Bank Reconciliation screen when creating a reconciliation for a foreign currency bank account.
Cause: A blank Cash Manager default rate type in the Currency Manager Setup screen. When entering a bank reconciliation for a foreign currency denominated cash account, the screen approximates a base currency balance by looking up a currency rate for the default rate type in the currency manager setup screen. If the default Cash Manager rate type in the setup screen is blank, it will try to find a curyrate record where the rate type is blank and that will never be the case so the error occurs.
Resolution: Open currency manager setup and populate the default rate type for Cash Manager.