How To Fix FARR_FOUNDATION120 - Account determination for contract asset failed for company code &1

FARR_FOUNDATION120 - Overview

• Message type: E = Error

• Message class: FARR_FOUNDATION - Revenue Accounting - Foundation

• Message number: 120

• Message text: Account determination for contract asset failed for company code &1

What causes this issue?

The account determination for the <ZK>contract asset </>account failed
because the system found no configuration entry for company code &v1&,
accounting principle &v2&, POB type &v3& and reference account &v4&.

System Response

The revenue accounting item was not processed for accounting principle
&v2&.

How to fix this error?

Maintain a matching entry in the
<DS:TRAN.FARR_ACCT_DETER_CUST>BRF+ Account Determination Rules</> on
the tab <ZK>Contract Asset</>.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.

FARR_FOUNDATION120 - Details

• The SAP error message FARR_FOUNDATION120 indicates that there is an issue with account determination for contract assets in the specified company code. This error typically arises in the context of Asset Accounting (FI-AA) and can occur during various processes, such as posting transactions or executing reports.
  
  Cause:
  The error can be caused by several factors, including:
  
  
  Missing Account Determination Settings: The system may not have the necessary account determination settings configured for the specific company code and asset class.
  
  
  Incorrect Configuration: There may be incorrect or incomplete configuration in the Asset Accounting settings, particularly in the area of account determination for contract assets.
  
  
  Missing Master Data: The asset master data may not be properly set up, leading to the inability to determine the correct accounts.
  
  
  Company Code-Specific Issues: The company code specified in the error message may not have the required settings or may not be properly linked to the relevant asset classes.
  
  
  
  Solution:
  To resolve the error,