How To Fix FARR_CONTRACT_MAIN505 - Fulfil. date of perf.obl. &1 (cont. &2) falls in a closed, previous per.

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 505

• Message text: Fulfil. date of perf.obl. &1 (cont. &2) falls in a closed, previous per.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_MAIN505 - Fulfil. date of perf.obl. &1 (cont. &2) falls in a closed, previous per. ?

  The SAP error message FARR_CONTRACT_MAIN505 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 falls within a closed previous period, which means that the system does not allow changes or postings to be made for that period due to its closed status.
  Cause:
  
  Closed Period: The fulfillment date you are trying to enter or process is within a financial period that has already been closed. In SAP, once a period is closed, it is typically locked for any further postings to maintain the integrity of financial reporting.
  Incorrect Date Entry: There may be an error in the date you are trying to enter, possibly due to a misunderstanding of the contract terms or the performance obligations.
  Contract Configuration: The contract may not be set up correctly, leading to conflicts with the fulfillment dates.
  
  Solution:
  
  
  Check Period Status: Verify the status of the financial periods in your SAP system. If the period is indeed closed, you will need to either:
  
  Reopen the period (if your business processes allow for this).
  Adjust the fulfillment date to a date in an open period.
  
  
  
  Adjust Fulfillment Date: If the fulfillment date is incorrect, update it to a valid date that falls within an open period.
  
  
  Review Contract Terms: Ensure that the contract and performance obligations are set up correctly. Check if there are any discrepancies in the contract that might lead to this error.
  
  
  Consult with Finance Team: If you are unsure about reopening a period or adjusting dates, consult with your finance or accounting team to understand the implications of such actions.
  
  
  SAP Notes and Documentation: Check SAP Notes for any specific patches or updates related to this error message. Sometimes, there may be known issues or fixes provided by SAP.
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like FARR (for contract management) or FB03 (to view documents) to investigate further.
  Configuration Settings: Review the configuration settings for contract management in SAP to ensure that they align with your business processes.
  User Authorization: Ensure that you have the necessary authorizations to make changes to contracts and periods in SAP.
  
  By following these steps, you should be able to resolve the error and proceed with your contract management tasks in SAP.