How To Fix FTR_TEX1701 - Enter residence time in Customizing for company &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FTR_TEX1 - Messages for raw exposures

• Message number: 701

• Message text: Enter residence time in Customizing for company &1

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.

Unfortunately, there isn't any extra information in this error notice.

What else can you do?

First, use our AnswerBot below to get a possible cause and solution (requires a premium subscription).

Also, review the in-depth Common Questions & Answers listed below; you could discover a solution there or be able to connect with others who have faced similar challenges.

You can also try searching the SAP support portal (support.sap.com) but you need a special user ID to access it. It is possible that an SAP support note exists that provides additional details about the mistake or even steps for fixing it.

Smart SAP Assistant

• What is the cause and solution for SAP error message FTR_TEX1701 - Enter residence time in Customizing for company &1 ?

  The SAP error message FTR_TEX1701 indicates that there is a missing configuration related to the residence time for a specific company code in the Treasury module. This error typically arises when the system requires a residence time setting for certain financial transactions, but it has not been defined in the Customizing settings.
  Cause:
  The error occurs because the residence time, which is a critical parameter for certain financial instruments and transactions, has not been set up in the system for the specified company code. This can happen if the configuration was overlooked during the initial setup or if changes were made to the company code settings without updating the residence time.
  Solution:
  To resolve this error, you need to enter the residence time in the Customizing settings for the affected company code. Here are the steps to do this:
  
  
  Access Customizing:
  
  Go to the SAP Easy Access screen.
  Navigate to the Customizing area by entering transaction code SPRO or using the menu path: Tools -> Customizing -> IMG -> Execute Project.
  
  
  
  Find the Relevant Configuration:
  
  In the Customizing Implementation Guide (IMG), navigate to:
  
  Financial Accounting (New) -> Treasury -> Transaction Management -> Define Residence Time.
  
  
  
  
  
  Define Residence Time:
  
  Select the company code for which you want to define the residence time.
  Enter the required residence time in the appropriate field. This is usually specified in days or months, depending on your organization's requirements.
  
  
  
  Save Changes:
  
  After entering the residence time, save your changes.
  
  
  
  Test the Configuration:
  
  After making the changes, try to execute the transaction that previously resulted in the error to ensure that the issue has been resolved.
  
  
  
  Related Information:
  
  Residence Time: This is a parameter that defines the duration for which a financial instrument is held before it is considered for certain processing or reporting. It is important for compliance and financial reporting.
  Company Code: This is a key organizational unit in SAP that represents a legal entity for which financial statements can be created.
  Treasury Module: This module in SAP is used for managing financial transactions, cash management, and risk management.
  
  If you continue to experience issues after following these steps, it may be helpful to consult with your SAP support team or refer to SAP documentation for further troubleshooting.