How To Fix FARR_CONTR_LIFECYCLE023 - P/L account for recognized revenue of performance obligation &1 not found

FARR_CONTR_LIFECYCLE023 - Overview

• Message type: E = Error

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

• Message number: 023

• Message text: P/L account for recognized revenue of performance obligation &1 not found

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTR_LIFECYCLE023 - P/L account for recognized revenue of performance obligation &1 not found ?

  The SAP error message FARR_CONTR_LIFECYCLE023 indicates that the system cannot find a Profit and Loss (P/L) account for recognized revenue related to a specific performance obligation. This error typically arises in the context of SAP's Revenue Accounting and Reporting (RAR) module, which is used to manage revenue recognition in compliance with accounting standards such as IFRS 15 and ASC 606.
  
  Cause:
  
  Missing Configuration: The most common cause of this error is that the P/L account for the recognized revenue of the specified performance obligation has not been configured in the system.
  Incorrect Account Assignment: The account assignment for the performance obligation may be incorrect or missing in the relevant configuration settings.
  Master Data Issues: There may be issues with the master data related to the performance obligation, such as missing or incorrect entries in the relevant tables.
  Integration Issues: If the performance obligation is linked to other modules (like SD or PS), there may be