How To Fix FARR_CONTRACT_UI226 - Specify a standalone selling price for each distinct perf. oblig.

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_CONTRACT_UI - Revenue Accounting - Contract UI

• Message number: 226

• Message text: Specify a standalone selling price for each distinct perf. oblig.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_CONTRACT_UI226 - Specify a standalone selling price for each distinct perf. oblig. ?

  The SAP error message FARR_CONTRACT_UI226 indicates that when creating or modifying a contract in the SAP system, you need to specify a standalone selling price for each distinct performance obligation. This error typically arises in the context of revenue recognition, particularly when dealing with contracts that involve multiple performance obligations.
  Cause:
  
  Multiple Performance Obligations: The contract you are working with has multiple performance obligations, and the system requires a standalone selling price for each of these obligations.
  Missing Data: The standalone selling price for one or more performance obligations has not been entered or is missing in the contract.
  Configuration Issues: There may be configuration settings in the SAP system that are not set up correctly, leading to this error.
  
  Solution:
  
  
  Enter Standalone Selling Prices:
  
  Go to the contract in question and ensure that you have specified a standalone selling price for each distinct performance obligation.
  Navigate to the relevant section of the contract where performance obligations are defined and enter the required prices.
  
  
  
  Review Contract Structure:
  
  Check the structure of the contract to ensure that all performance obligations are clearly defined and that each has an associated standalone selling price.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources related to revenue recognition and performance obligations to ensure compliance with the necessary requirements.
  
  
  
  Configuration Check:
  
  If you believe that the data is correct but the error persists, consult with your SAP administrator or technical team to check if there are any configuration issues in the system that need to be addressed.
  
  
  
  Testing:
  
  After making the necessary changes, test the contract creation or modification process again to ensure that the error has been resolved.
  
  
  
  Related Information:
  
  Revenue Recognition: This error is particularly relevant in the context of ASC 606 or IFRS 15, which require entities to recognize revenue based on performance obligations and their standalone selling prices.
  SAP Modules: This error is typically encountered in modules related to SAP S/4HANA, SAP Revenue Accounting and Reporting (RAR), or SAP Contract Management.
  User Roles: Ensure that the user has the appropriate permissions to edit contracts and enter pricing information.
  
  If the issue persists after following these steps, it may be beneficial to reach out to SAP support or consult with a professional who specializes in SAP revenue recognition processes.