How To Fix FINS_REV_REC101 - On object &1 with status 'closed' postings are utterly impossible

FINS_REV_REC101 - Overview

• Message type: E = Error

• Message class: FINS_REV_REC - Event Based revenue recognition

• Message number: 101

• Message text: On object &1 with status 'closed' postings are utterly impossible

Self-Explanatory Message

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FINS_REV_REC101 - Details

• The SAP error message FINS_REV_REC101 indicates that there is an issue with posting to a closed object in the context of revenue recognition. This error typically arises when you attempt to post a transaction to a revenue recognition object (like a project or contract) that has already been marked as "closed." 
  
  Cause:
  
  Closed Status: The primary cause of this error is that the object (e.g., project, contract, or order) has been closed, meaning that no further postings can be made to it. This is often done to prevent any changes to financial data after a certain point in time, such as the end of a fiscal period.
  Incorrect Posting Attempt: You may be trying to post a transaction that should not be posted to a closed object, such as adjustments or corrections.
  
  
  Solution:
  
  Check Object Status: Verify the status of the object you are trying to post to. If it is indeed closed, you