How To Fix FARR_CONTR_LIFECYCLE021 - No reference acct found f. detn of deferred revenue acct on contr. level.

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTR_LIFECYCLE - Message from Contract Lifecyle (RAR 2.0 Object Model)

• Message number: 021

• Message text: No reference acct found f. detn of deferred revenue acct on contr. level.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTR_LIFECYCLE021 - No reference acct found f. detn of deferred revenue acct on contr. level. ?

  The SAP error message FARR_CONTR_LIFECYCLE021 indicates that there is no reference account found for the determination of the deferred revenue account at the contract level. This error typically arises in the context of contract accounting, particularly when dealing with revenue recognition and deferred revenue in SAP's Flexible Real Estate Management (RE-FX) or similar modules.
  Cause:
  
  Missing Configuration: The most common cause of this error is that the system is unable to find a reference account for deferred revenue in the configuration settings. This could be due to missing entries in the relevant configuration tables.
  Contract Settings: The specific contract may not have been set up correctly, lacking the necessary account assignments for deferred revenue.
  Account Determination: The account determination process may not have been properly configured, leading to the system's inability to find the appropriate accounts for the transaction.
  Master Data Issues: There may be issues with the master data related to the contract or the accounts involved.
  
  Solution:
  
  
  Check Configuration:
  
  Navigate to the configuration settings for account determination in the relevant module (e.g., Contract Accounting).
  Ensure that the reference accounts for deferred revenue are correctly defined in the system.
  Verify that the account determination procedure is correctly assigned to the relevant contract type.
  
  
  
  Review Contract Settings:
  
  Open the contract in question and check the account assignment details.
  Ensure that the deferred revenue account is specified and correctly linked to the contract.
  
  
  
  Update Master Data:
  
  If there are any discrepancies in the master data related to the contract or accounts, update them accordingly.
  Ensure that all necessary fields are filled out and that the data is consistent.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help notes related to contract accounting and deferred revenue to ensure that all necessary steps have been followed.
  
  
  
  Testing:
  
  After making the necessary changes, test the transaction again to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like OBYC (for account determination) or FARR (for contract accounting) to access the relevant settings.
  SAP Notes: Check for any SAP Notes related to this error message for additional guidance or patches that may address the issue.
  User Roles: Ensure that the user has the necessary authorizations to view and modify the relevant settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a consultant who specializes in SAP Financials for further assistance.