How To Fix FARR_APPLICATION114 - Contract &1: Open recon key exists in closed period &2/&3

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_APPLICATION - General Revenue Accounting Applications and Code

• Message number: 114

• Message text: Contract &1: Open recon key exists in closed period &2/&3

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_APPLICATION114 - Contract &1: Open recon key exists in closed period &2/&3 ?

  The SAP error message FARR_APPLICATION114 indicates that there is an open reconciliation key for a contract that exists in a closed period. This typically occurs in the context of contract accounting or asset accounting within the SAP system, particularly when dealing with financial transactions that are linked to contracts.
  Cause:
  
  Open Reconciliation Key: The error arises when there is an open reconciliation key (which is used to reconcile transactions) that is still active for a contract, but the period in which the reconciliation key is open has been closed for posting.
  Closed Posting Period: The system does not allow any changes or postings to be made in a closed period, which leads to this error when trying to process transactions related to the contract.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check the Reconciliation Key:
  
  Use transaction codes like FBL1N (Vendor Line Item Display) or FBL3N (G/L Account Line Item Display) to check the status of the reconciliation key associated with the contract.
  Identify the open reconciliation key and its details.
  
  
  
  Review Posting Periods:
  
  Check the configuration of your posting periods in the SAP system. You can do this using transaction code OB52 (Maintain Posting Periods).
  Ensure that the period in question is indeed closed and confirm the settings for the periods.
  
  
  
  Adjust the Reconciliation Key:
  
  If possible, you may need to close the open reconciliation key or adjust its status. This might involve reversing or clearing transactions associated with that key.
  If the reconciliation key should remain open, consider reopening the posting period temporarily to allow for necessary adjustments.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about the implications of changing the reconciliation key or posting periods, consult with your finance or accounting team to ensure compliance with financial policies and procedures.
  
  
  
  SAP Notes and Support:
  
  Check for any relevant SAP Notes that might address this specific error or provide additional guidance.
  If the issue persists, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FBL1N, FBL3N, OB52, and others that may help in diagnosing and resolving the issue.
  Documentation: Review SAP documentation related to contract accounting and reconciliation processes to understand the implications of open reconciliation keys and closed periods.
  User Roles: Ensure that you have the necessary authorizations to view and modify reconciliation keys and posting periods.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.