How To Fix FTR0605 - Choose contract type &1 for financial transaction &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FTR0 - Treasury: Financial Transaction

• Message number: 605

• Message text: Choose contract type &1 for financial transaction &2

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FTR0605 - Choose contract type &1 for financial transaction &2 ?

  The SAP error message FTR0605, which states "Choose contract type &1 for financial transaction &2," typically occurs in the context of financial transactions involving derivatives or other financial instruments in the SAP system. This error indicates that the system is expecting a specific contract type to be associated with the financial transaction you are trying to process.
  Cause:
  
  Incorrect Contract Type: The financial transaction you are trying to execute is not associated with the correct contract type. This can happen if the contract type is not defined properly in the system or if the transaction is being processed with an incompatible contract type.
  Configuration Issues: There may be configuration issues in the SAP system related to the financial transaction types and their corresponding contract types.
  Missing Master Data: The necessary master data for the financial transaction or contract type may be missing or incorrectly set up.
  
  Solution:
  
  Check Contract Type: Verify that the contract type you are trying to use is appropriate for the financial transaction. You can do this by checking the configuration settings in the SAP system.
  Review Configuration: Go to the configuration settings for financial transactions and ensure that the contract types are correctly defined and linked to the appropriate transaction types.
  
  You can access this through the following path in the SAP menu: 
  
  SPRO > Financial Supply Chain Management > Treasury and Risk Management > Transaction Manager > Settings for Financial Transactions > Define Contract Types.
  
  
  
  
  Update Master Data: Ensure that all necessary master data for the financial transaction and contract type is complete and accurate. This includes checking the settings for the financial instruments involved.
  Consult Documentation: Review SAP documentation or help resources for specific details on the contract types and their requirements.
  Contact Support: If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes that may help in troubleshooting, such as:
  
  FTR_CREATE: Create financial transaction
  FTR_DISPLAY: Display financial transaction
  
  
  SAP Notes: Check for any SAP Notes related to this error message, as they may provide additional insights or patches that could resolve the issue.
  User Roles and Authorizations: Ensure that the user has the necessary authorizations to perform the transaction and access the required contract types.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.