How To Fix FARR_ACCR_MAIN058 - Cannot calculate the contract liab. and contract asset for contract &1.

FARR_ACCR_MAIN058 - Overview

• Message type: E = Error

• Message class: FARR_ACCR_MAIN - Revenue Accounting - Accrual Management

• Message number: 058

• Message text: Cannot calculate the contract liab. and contract asset for contract &1.

What causes this issue?

Revenue Accounting cannot calculate the contract liability and contract
asset for contract &V1& because it has uncalculated contract liability
and contract asset before accounting period &V2& &V3&.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FARR_ACCR_MAIN058 - Details

• The SAP error message FARR_ACCR_MAIN058 indicates that the system is unable to calculate the contract liability and contract asset for a specific contract (denoted by &1). This error typically arises in the context of contract accounting and revenue recognition processes within SAP, particularly in the SAP S/4HANA or SAP ERP systems.
  Causes:
  
  Missing or Incomplete Data: The contract may be missing essential data required for the calculation, such as contract terms, billing plans, or relevant accounting entries.
  
  Configuration Issues: There may be configuration issues in the contract accounting settings, such as incorrect settings in the revenue recognition or contract management modules.
  Posting Period Issues: The posting period may be closed or not open for the relevant transactions, preventing the calculation from being executed.
  Inconsistent Data: There may be inconsistencies in the data related to the contract, such as mismatched amounts or incorrect account assignments.
  Technical Issues: There could be underlying technical issues, such as program errors