How To Fix FARR_CONTRACT_MAIN359 - Transaction price is empty for performance obligation &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 359

• Message text: Transaction price is empty for performance obligation &1

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_MAIN359 - Transaction price is empty for performance obligation &1 ?

  The SAP error message FARR_CONTRACT_MAIN359 indicates that there is an issue with a performance obligation in a contract where the transaction price is not defined or is empty. 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:
  
  Missing Transaction Price: The most common cause of this error is that the transaction price for the specified performance obligation has not been set or is missing in the contract.
  Incorrect Configuration: There may be configuration issues in the RAR settings that prevent the transaction price from being calculated or assigned correctly.
  Data Entry Errors: There could be data entry errors in the contract or performance obligation setup, leading to an empty transaction price.
  Incomplete Contract Setup: The contract may not be fully set up, or certain required fields may not have been filled out.
  
  Solution:
  
  Check Contract Details: Review the contract associated with the performance obligation to ensure that the transaction price is defined. You can do this by navigating to the contract in the SAP system and checking the relevant fields.
  Update Transaction Price: If the transaction price is indeed missing, update it with the correct value. Ensure that all necessary pricing conditions are met.
  Review Performance Obligation: Check the performance obligation details to ensure that all required fields are filled out correctly.
  Configuration Review: If the issue persists, review the configuration settings in the RAR module to ensure that everything is set up correctly for transaction pricing.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on handling transaction prices and performance obligations in RAR.
  Testing: After making changes, test the contract again to ensure that the error is resolved.
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FARR for Revenue Accounting and Reporting, which may help in navigating the system.
  User Roles: Ensure that you have the appropriate permissions to view and edit contracts and performance obligations in the SAP system.
  Training: Consider training or resources on SAP RAR to better understand how transaction pricing and performance obligations work within the system.
  
  If the problem continues after following these steps, it may be beneficial to consult with your SAP support team or a technical consultant who specializes in SAP RAR for further assistance.