How To Fix FTR0560 - Retention period is not specified for entity 'Contact Person'

FTR0560 - Overview

• Message type: E = Error

• Message class: FTR0 - Treasury: Financial Transaction

• Message number: 560

• Message text: Retention period is not specified for entity 'Contact Person'

Self-Explanatory Message

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FTR0560 - Details

• The SAP error message FTR0560 indicates that a retention period has not been specified for the entity 'Contact Person' in the context of the SAP system, particularly in the area of Financial Services or Asset Management. This error typically arises when trying to process or manage data related to contact persons without having defined the necessary retention periods.
  
  Cause:
  The primary cause of this error is that the system requires a retention period to be defined for the contact person entity, which is necessary for compliance and data management purposes. The retention period specifies how long the data related to the contact person should be retained in the system before it can be archived or deleted.
  
  Solution:
  To resolve the error FTR0560, you need to specify a retention period for the contact person entity. Here are the steps to do this:
  
  
  Access the Configuration Settings:
  
  Go to the SAP Easy Access screen.
  Navigate to the relevant configuration