How To Fix FARR_MSG_CUSTOM031 - Performance obligation &1 has no deferral items

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_MSG_CUSTOM - Customizable Messages for Revenue Accounting

• Message number: 031

• Message text: Performance obligation &1 has no deferral items

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_MSG_CUSTOM031 - Performance obligation &1 has no deferral items ?

  The SAP error message FARR_MSG_CUSTOM031 indicates that there is a performance obligation in the system that does not have any associated deferral items. This typically occurs in the context of revenue recognition and accounting for performance obligations under the new revenue recognition standards (ASC 606 / IFRS 15).
  Cause:
  
  Missing Deferral Items: The performance obligation is expected to have deferral items (which represent the revenue that is deferred until the performance obligation is satisfied), but none have been created or linked to it.
  Incorrect Configuration: The configuration settings for revenue recognition or performance obligations may not be set up correctly.
  Data Entry Issues: There may have been an oversight during data entry or during the creation of the performance obligation, leading to the absence of deferral items.
  Timing Issues: The performance obligation may have been created before the associated deferral items were set up or processed.
  
  Solution:
  
  Check Deferral Items: Verify if the deferral items have been created for the performance obligation. If not, you may need to create them manually or ensure that the system processes them correctly.
  Review Configuration: Check the configuration settings in the SAP system related to revenue recognition and performance obligations. Ensure that all necessary settings are correctly configured.
  Data Validation: Review the data entry process to ensure that all required fields and items are correctly filled out when creating performance obligations.
  Reprocess Transactions: If the performance obligation was created in error or without the necessary items, consider reprocessing the transaction to ensure that all related items are correctly linked.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on handling performance obligations and deferral items.
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error message or provide additional troubleshooting steps.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FARR (for revenue recognition) to navigate and manage performance obligations and deferral items.
  Training and Support: If the issue persists, consider reaching out to your SAP support team or consulting with an SAP expert who specializes in revenue recognition and financial accounting.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.