How To Fix FARR_CONTRACT_MAIN049 - Residual performance obligation &1 has a standalone selling price

FARR_CONTRACT_MAIN049 - Overview

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 049

• Message text: Residual performance obligation &1 has a standalone selling price

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_MAIN049 - Residual performance obligation &1 has a standalone selling price ?

  The SAP error message FARR_CONTRACT_MAIN049 typically relates to issues with residual performance obligations in the context of revenue recognition, particularly under the new revenue recognition standards (ASC 606 / IFRS 15). This error indicates that there is a residual performance obligation that has a standalone selling price, which may not be properly accounted for in the contract.
  
  Cause:
  
  Residual Performance Obligation: The error suggests that there is a performance obligation that remains after other obligations have been fulfilled, and it has a standalone selling price associated with it.
  Contract Configuration: The contract may not be configured correctly, leading to discrepancies in how performance obligations are recognized.
  Incomplete Data: There may be missing or incorrect data related to the performance obligations or their pricing.
  Revenue Recognition Settings: The settings for revenue recognition in the system may not align with the requirements for handling standalone selling prices.
  
  
  Solution:
  
  Review Performance Obligations: Check the performance obligations associated with the contract.