How To Fix FTR_COMS011 - Contract date must be less than or equal to start of term

SAP Error Message - Details

• Message type: E = Error

• Message class: FTR_COMS -

• Message number: 011

• Message text: Contract date must be less than or equal to start of term

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FTR_COMS011 - Contract date must be less than or equal to start of term ?

  The SAP error message FTR_COMS011 indicates that there is an issue with the contract date in relation to the start of the term for a financial transaction or contract. Specifically, the error states that the contract date must be less than or equal to the start of the term. This typically occurs in the context of financial contracts, such as leases or loans, where the timing of the contract is critical.
  Cause:
  
  Incorrect Contract Date: The contract date entered is later than the start date of the term. This means that the contract is being defined to start after it has already been established, which is logically inconsistent.
  Data Entry Error: There may have been a typographical error when entering the contract date or the start of the term.
  System Configuration: In some cases, the system configuration or settings may not align with the expected behavior for contract dates and term start dates.
  
  Solution:
  
  Check Dates: Review the contract date and the start of the term. Ensure that the contract date is set to a date that is less than or equal to the start of the term.
  Correct Data Entry: If there is a mistake in the dates, correct the contract date or the start of the term as necessary.
  Consult Documentation: If you are unsure about the correct dates, refer to the relevant documentation or guidelines for the specific financial product you are working with.
  System Configuration: If the issue persists and you believe the dates are correct, consult with your SAP administrator or technical team to check if there are any configuration issues that need to be addressed.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with the relevant transaction codes in SAP that pertain to contract management and financial transactions, such as FTR_CREATE for creating contracts.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Manuals: Refer to user manuals or training materials specific to the financial module you are using (e.g., SAP Treasury and Risk Management) for additional context on contract management.
  
  By following these steps, you should be able to resolve the error and ensure that the contract dates are correctly aligned with the terms of the contract.