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

SAP Error Message - Details

• 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.

Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_FOUNDATION120 - Account determination for contract asset failed for company code &1 ?

  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, you can follow these steps:
  
  
  Check Account Determination Configuration:
  
  Go to the configuration settings for Asset Accounting in the SAP system.
  Navigate to Financial Accounting (New) > Asset Accounting > Account Determination > Define Account Determination for Contract Assets.
  Ensure that the account determination settings are correctly defined for the relevant company code and asset class.
  
  
  
  Review Asset Class Settings:
  
  Check the asset class settings to ensure that they are correctly configured to allow for contract asset postings.
  Make sure that the necessary accounts (e.g., acquisition, depreciation) are assigned to the asset class.
  
  
  
  Verify Master Data:
  
  Review the asset master data for the specific asset in question. Ensure that all required fields are filled out correctly and that the asset is assigned to the correct asset class.
  
  
  
  Check Company Code Settings:
  
  Ensure that the company code is properly set up in the system and that it has the necessary configurations for Asset Accounting.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for additional guidance on account determination and asset accounting settings.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test transaction to verify that the error has been resolved.
  
  
  
  Related Information:
  
  Transaction Codes: You may use transaction codes such as OAOA (for account determination) and AS01 (to create asset master data) to access relevant settings.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to this error message.
  Support: If the issue persists after checking the configurations, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  By following these steps, you should be able to identify and resolve the cause of the FARR_FOUNDATION120 error message in your SAP system.