How To Fix FARRIC_SD020 - Company Code &1 has Recognition Key for Event-Based Revenue Recognition

SAP Error Message - Details

• Message type: E = Error

• Message class: FARRIC_SD - Revenue Recognition Integration Component

• Message number: 020

• Message text: Company Code &1 has Recognition Key for Event-Based Revenue Recognition

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FARRIC_SD020 - Company Code &1 has Recognition Key for Event-Based Revenue Recognition ?

  The SAP error message FARRIC_SD020 indicates that there is an issue related to the recognition key for event-based revenue recognition in the specified company code. This error typically arises when there is a mismatch or misconfiguration in the settings for revenue recognition in the SAP system.
  Cause:
  
  Missing Configuration: The company code may not be properly configured for event-based revenue recognition.
  Recognition Key Issues: The recognition key for the company code may not be set up correctly or is missing.
  Inconsistent Data: There may be inconsistencies in the data related to revenue recognition, such as missing or incorrect entries in the relevant tables.
  Transaction Type: The transaction type being used may not be compatible with event-based revenue recognition.
  
  Solution:
  
  
  Check Configuration:
  
  Go to the configuration settings for revenue recognition in SAP (Transaction Code: SPRO).
  Navigate to Financial Accounting (New) > Revenue Recognition > Event-Based Revenue Recognition.
  Ensure that the company code is correctly configured for event-based revenue recognition.
  
  
  
  Review Recognition Key:
  
  Check the recognition key settings for the company code in the relevant configuration area.
  Ensure that the recognition key is defined and correctly assigned to the company code.
  
  
  
  Data Consistency:
  
  Use transaction codes like SE16 or SE11 to check the relevant tables (e.g., table FARR for revenue recognition) for any inconsistencies or missing entries.
  Correct any discrepancies found in the data.
  
  
  
  Transaction Type Validation:
  
  Verify that the transaction type being used is compatible with event-based revenue recognition.
  If necessary, adjust the transaction type settings to ensure compatibility.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for additional guidance on configuring event-based revenue recognition.
  
  
  
  Testing:
  
  After making the necessary changes, perform tests to ensure that the error no longer occurs and that revenue recognition is functioning as expected.
  
  
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional troubleshooting steps.
  SAP Community: Engage with the SAP Community forums to see if other users have encountered similar issues and what solutions they have found.
  Support: If the issue persists after following the above steps, consider reaching out to SAP support for further assistance.
  
  By following these steps, you should be able to resolve the FARRIC_SD020 error and ensure proper configuration for event-based revenue recognition in your SAP system.