How To Fix FTBCVA042 - Contract type &1 of financial transaction &2 is not supported

SAP Error Message - Details

• Message type: E = Error

• Message class: FTBCVA - Credit Value Adjustment

• Message number: 042

• Message text: Contract type &1 of financial transaction &2 is not supported

What causes this issue?

Only transactions with the contract categories '4' (Foreign Exchange),
'5' (Money Market) and '6' (Derivatives) are considered for the CVA
calculation. Consequently,
it is not permitted to create expected exposures with other contract
categories.

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?

Enter a financial transaction with a supported contract category.

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 FTBCVA042 - Contract type &1 of financial transaction &2 is not supported ?

  The SAP error message FTBCVA042 indicates that the contract type specified in a financial transaction is not supported by the system. This error typically arises in the context of financial transactions involving contracts, such as those related to financial instruments, leasing, or other contractual agreements.
  Cause:
  
  Unsupported Contract Type: The contract type specified in the transaction does not exist in the system or is not configured to be used for the specific financial transaction.
  Configuration Issues: The contract type may not be properly configured in the system settings, or it may not be linked to the relevant financial transaction type.
  Missing Authorizations: The user may not have the necessary authorizations to process transactions with the specified contract type.
  Data Entry Errors: There may be a typographical error in the contract type or transaction code entered.
  
  Solution:
  
  Check Contract Type: Verify that the contract type specified in the transaction is valid and exists in the system. You can do this by checking the configuration settings in the relevant SAP module (e.g., SAP Contract Management, SAP Treasury).
  Configuration Review: Ensure that the contract type is properly configured in the system. This may involve checking the customizing settings in transaction SPRO or relevant configuration transactions.
  Authorization Check: Confirm that the user has the necessary authorizations to execute transactions involving the specified contract type. This may require coordination with your SAP security team.
  Correct Data Entry: Double-check the data entered for any typographical errors or incorrect codes. Ensure that the correct contract type is being used.
  Consult Documentation: Refer to SAP documentation or help resources for specific details about supported contract types for the financial transaction in question.
  Contact SAP Support: If the issue persists after checking the above points, consider reaching out to SAP support for further assistance, especially if this is a new or unexpected error.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes that may be used to manage contracts and financial transactions (e.g., FBL1N, FBL3N, etc.).
  SAP Notes: Check for any SAP Notes related to this error message, as they may provide additional insights or patches that address the issue.
  User Forums: Engage with SAP community forums or user groups where similar issues may have been discussed, and solutions shared.
  
  By following these steps, you should be able to identify the root cause of the FTBCVA042 error and implement an appropriate solution.