How To Fix FARR_CONTRACT_MAIN147 - Performance obligation &1 is not time-based as expected

FARR_CONTRACT_MAIN147 - Overview

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 147

• Message text: Performance obligation &1 is not time-based as expected

Self-Explanatory Message

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FARR_CONTRACT_MAIN147 - Details

• The SAP error message FARR_CONTRACT_MAIN147 indicates that there is an issue with the performance obligation in a contract not being time-based as expected. 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:
  The error occurs when the system expects a performance obligation to be time-based (i.e., recognized over a period of time), but the configuration or data for that performance obligation does not meet this requirement. This can happen due to several reasons:
  
  Incorrect Configuration: The performance obligation may not be set up correctly in the system, leading to a mismatch in expectations.
  Data Entry Errors: There may be incorrect or incomplete data entered for the performance obligation, such as missing start or end dates.
  Contract Structure: The structure of the contract may not align with the expected time-based