How To Fix FARR_CONTRACT_DB010 - Contract &1 contains no performance obligation

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTRACT_DB - Revenue Accounting - Contract DB Access

• Message number: 010

• Message text: Contract &1 contains no performance obligation

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.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_DB010 - Contract &1 contains no performance obligation ?

  The SAP error message FARR_CONTRACT_DB010 indicates that the specified contract (identified by &1) does not contain any performance obligations. 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:
  
  No Performance Obligations Defined: The contract in question may not have any performance obligations defined. Performance obligations are essential for revenue recognition, as they represent the promise to transfer a good or service to a customer.
  Incorrect Contract Configuration: The contract may not have been set up correctly, or it may have been created without specifying any performance obligations.
  Data Inconsistencies: There may be inconsistencies or missing data in the contract that prevent the system from recognizing any performance obligations.
  
  Solution:
  
  Check Contract Details: Review the contract details in the SAP system to ensure that performance obligations are defined. You can do this by navigating to the contract in the RAR module and checking the performance obligations section.
  Create or Update Performance Obligations: If no performance obligations exist, you will need to create them. This can typically be done by editing the contract and adding the necessary performance obligations that correspond to the goods or services being provided.
  Validate Contract Configuration: Ensure that the contract is configured correctly according to your organization's revenue recognition policies. This may involve consulting with your finance or accounting team to ensure compliance with relevant standards.
  Check for Data Consistency: Ensure that all necessary data is complete and consistent. This may involve checking related master data or transactional data that could impact the contract.
  
  Related Information:
  
  SAP Documentation: Refer to the official SAP documentation for the Revenue Accounting and Reporting module for detailed guidance on setting up contracts and performance obligations.
  Transaction Codes: Familiarize yourself with relevant transaction codes in SAP for managing contracts and performance obligations, such as:
  
  FARR_CONTRACT: To manage contracts in RAR.
  FARR_OBLIGATION: To manage performance obligations.
  
  
  Consult SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  User Forums and Communities: Engage with SAP user communities or forums where similar issues may have been discussed, and solutions shared.
  
  By following these steps, you should be able to resolve the error and ensure that your contract is properly set up for revenue recognition.