How To Fix FARR_FOUNDATION801 - Account &1 is not valid; Contract Asset account must be a B/S account

FARR_FOUNDATION801 - Overview

• Message type: E = Error

• Message class: FARR_FOUNDATION - Revenue Accounting - Foundation

• Message number: 801

• Message text: Account &1 is not valid; Contract Asset account must be a B/S account

What causes this issue?

The validation for the contract asset account failed because the
determined account is not a balance sheet account.

System Response

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

How to fix this error?

Check the account configuration under
<DS:SIMG.FI_GL_MD_FS00_DC>Edit G/L Account Centrally</>.
Maintain the correct account in the
<DS:TRAN.FARR_ACCT_DETER_CUST>BRF+ Account Determination Rules</> on
the tab <ZK>Contract Asset</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_FOUNDATION801 - Account &1 is not valid; Contract Asset account must be a B/S account ?

  The SAP error message FARR_FOUNDATION801 indicates that the account specified (in this case, Account &1) is not valid for the context in which it is being used. Specifically, it states that the Contract Asset account must be a Balance Sheet (B/S) account. This error typically arises in the context of Asset Accounting (FI-AA) or Contract Asset management in SAP.
  
  Cause:
  
  
  Account Type: The account you are trying to use is not configured as a Balance Sheet account. In SAP, accounts are categorized as either Balance Sheet accounts or Profit and Loss accounts. Contract Asset accounts must be Balance Sheet accounts because they represent assets that are expected to provide future economic benefits.
  
  
  
  Configuration Issues: The account may not be properly set up in the Chart of Accounts or may not be assigned to the correct account group.
  
  
  Incorrect Account Assignment: The account may have been incorrectly assigned in the configuration settings for Contract Asset