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

FARR_CONTRACT_MAIN359 - Overview

• 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

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

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_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