How To Fix FARR_CONTRACT_MAIN504 - Fulfil. date of perf.oblig. &1 (cont. &2) does not fall in current period

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 504

• Message text: Fulfil. date of perf.oblig. &1 (cont. &2) does not fall in current period

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_MAIN504 - Fulfil. date of perf.oblig. &1 (cont. &2) does not fall in current period ?

  The SAP error message FARR_CONTRACT_MAIN504 indicates that there is an issue with the fulfillment date of a performance obligation in a contract. Specifically, the error states that the fulfillment date does not fall within the current period. This typically occurs in the context of contract management and revenue recognition processes in SAP.
  Cause:
  
  Date Mismatch: The fulfillment date of the performance obligation is set to a date that is outside the current accounting period. This can happen if the contract was created or modified with dates that do not align with the current fiscal period.
  Period Closure: The accounting period may have been closed, preventing any transactions or postings that fall outside of that period.
  Configuration Issues: There may be configuration settings in the system that restrict the posting of transactions to certain periods.
  
  Solution:
  
  Check the Fulfillment Date: Review the fulfillment date of the performance obligation in the contract. Ensure that it falls within the current accounting period.
  Adjust the Date: If the date is incorrect, update the fulfillment date to a valid date that falls within the current period.
  Open the Period: If necessary, consider opening the accounting period if it is appropriate to do so, but be cautious as this can have implications for financial reporting.
  Review Contract Settings: Check the contract settings and ensure that they are configured correctly to allow for the desired posting periods.
  Consult with Finance Team: If you are unsure about the implications of changing dates or opening periods, consult with your finance or accounting team for guidance.
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes such as FARR (for contract management) or FBV0 (for document changes) to access and modify contract details.
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance on handling performance obligations.
  Documentation: Review SAP documentation related to contract management and revenue recognition to understand the implications of performance obligations and fulfillment dates.
  
  By following these steps, you should be able to resolve the error and ensure that your performance obligations are correctly aligned with the current accounting period.