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

FARR_CONTRACT_DB031 - Overview

• 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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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_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