How To Fix FARR_CONTRACT_MAIN406 - Start obtaining the exchange rate of contract at &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 406

• Message text: Start obtaining the exchange rate of contract at &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.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_MAIN406 - Start obtaining the exchange rate of contract at &1 ?

  The SAP error message FARR_CONTRACT_MAIN406 typically indicates an issue related to the retrieval of exchange rates for a contract in the SAP system. This error can occur in the context of contract management, particularly when dealing with foreign currency transactions.
  Cause:
  The error message suggests that the system is unable to obtain the exchange rate for the specified contract at the given date. This can happen due to several reasons:
  
  Missing Exchange Rate: The exchange rate for the currency pair involved in the contract may not be maintained in the system for the specified date.
  Incorrect Configuration: There may be issues with the configuration of the currency settings in the SAP system.
  Date Issues: The date for which the exchange rate is being requested may be outside the range of available rates.
  Authorization Issues: The user may not have the necessary authorizations to access the exchange rate data.
  
  Solution:
  To resolve the error, you can take the following steps:
  
  
  Check Exchange Rate Maintenance:
  
  Go to the transaction code OB08 (Maintain Exchange Rates) and verify if the exchange rate for the relevant currency pair is maintained for the required date.
  If the rate is missing, you can add it manually.
  
  
  
  Verify Date Settings:
  
  Ensure that the date for which the exchange rate is being requested is valid and falls within the range of maintained rates.
  
  
  
  Review Configuration:
  
  Check the configuration settings related to currency and exchange rates in the SAP system. This may involve reviewing the settings in the Financial Accounting (FI) module.
  
  
  
  Check User Authorizations:
  
  Ensure that the user has the necessary authorizations to access exchange rate data. This may involve checking roles and permissions assigned to the user.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or notes related to this error message for any specific guidance or patches that may be applicable.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB08 (Maintain Exchange Rates), FBL1N (Vendor Line Items), and FBL3N (G/L Account Line Items) for further investigation.
  SAP Notes: Search for SAP Notes related to this error message in the SAP Support Portal for any known issues or fixes.
  Documentation: Review the SAP Help Portal for detailed information on currency management and exchange rate configuration.
  
  By following these steps, you should be able to identify and resolve the issue causing the FARR_CONTRACT_MAIN406 error message in your SAP system.