How To Fix FARR_CONTRACT_DB031 - Base accounting principle not configured in Customizing

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 031

• Message text: Base accounting principle not configured in Customizing

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_DB031 - Base accounting principle not configured in Customizing ?

  The SAP error message FARR_CONTRACT_DB031 indicates that the base accounting principle is not configured in the Customizing settings for the Financial Accounting (FI) module, specifically in the context of Asset Accounting (FI-AA) or Contract Accounting (FI-CA). This error typically arises when you are trying to process a contract or an asset that requires a specific accounting principle that has not been set up in the system.
  Cause:
  
  Missing Configuration: The base accounting principle that is required for the transaction you are trying to execute has not been defined in the system.
  Incorrect Settings: The settings for the accounting principles may be incomplete or incorrectly configured.
  Version Mismatch: If you are using a version of SAP that requires specific configurations for new functionalities, and those configurations have not been applied.
  
  Solution:
  To resolve the error, you need to configure the base accounting principle in the Customizing settings. Here are the steps to do that:
  
  
  Access Customizing:
  
  Go to the SAP Easy Access screen.
  Navigate to SPRO (SAP Project Reference Object) and select SAP Reference IMG.
  
  
  
  Find the Relevant Configuration:
  
  For Asset Accounting, navigate to:
  Financial Accounting (New) -> Asset Accounting -> Integration -> Define Base Accounting Principles
  
  For Contract Accounting, navigate to:
  Financial Accounting (New) -> Contract Accounts Receivable and Payable -> Basic Settings -> Define Base Accounting Principles
  
  
  
  
  Define Base Accounting Principles:
  
  In the configuration screen, check if the required base accounting principle is listed.
  If it is not present, you will need to create a new entry for the base accounting principle that is required for your transaction.
  
  
  
  Assign the Base Accounting Principle:
  
  Ensure that the base accounting principle is assigned to the relevant company code and other necessary organizational units.
  
  
  
  Save Changes: After making the necessary changes, save your configuration.
  
  
  Test the Transaction: After configuration, try to execute the transaction again to see if the error persists.
  
  
  Related Information:
  
  Documentation: Refer to the SAP Help Portal for detailed documentation on configuring base accounting principles.
  Transaction Codes: You may find transaction codes like OAOA (for Asset Accounting) or OBC4 (for Contract Accounting) useful for navigating to the relevant configuration areas.
  Support: If you continue to experience issues, consider reaching out to your SAP support team or consulting the SAP Community for additional assistance.
  
  By following these steps, you should be able to resolve the FARR_CONTRACT_DB031 error and ensure that your base accounting principles are correctly configured in SAP.