How To Fix FARR_CONTRACT_MAIN824 - The system fails to calculte time-based revenue for contract &1

FARR_CONTRACT_MAIN824 - Overview

• Message type: E = Error

• Message class: FARR_CONTRACT_MAIN - Revenue Accounting: Contract Management

• Message number: 824

• Message text: The system fails to calculte time-based revenue for contract &1

What causes this issue?

The system automatically calculates time-based revenue for a contract in
the following scenarios:
You change the fulfilment type of a performance obligation from
event-based or percentage of completion to time-based.
When you perform contract modification on a contract, the system
calculates time-based revenue of periods prior to the effective date of
the contract modification. The calculation only applies to periods
before the effective date.
The system may fail to perform the calculation if it cannot get a
reconciliation key for the contract.

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FARR_CONTRACT_MAIN824 - Details

• The SAP error message FARR_CONTRACT_MAIN824 indicates that the system is unable to calculate time-based revenue for a specific contract. This error typically arises in the context of SAP's Revenue Accounting and Reporting (RAR) module, which is used for managing revenue recognition in compliance with accounting standards.
  Causes:
  
  Missing or Incomplete Data: The contract may be missing essential data required for revenue calculation, such as start and end dates, billing plans, or revenue recognition rules.
  
  Configuration Issues: There may be configuration issues in the RAR settings that prevent the system from processing the contract correctly.
  Contract Status: The contract might be in a status that does not allow for revenue calculation (e.g., not released or in a draft state).
  Time-Based Revenue Rules: The rules for time-based revenue recognition may not be properly defined or may not apply to the specific contract.
  System Errors: There could be underlying system errors or inconsistencies in the database that are causing