How To Fix FTR_TEX1709 - Residence time should be at least greater than 30 days

SAP Error Message - Details

• Message type: E = Error

• Message class: FTR_TEX1 - Messages for raw exposures

• Message number: 709

• Message text: Residence time should be at least greater than 30 days

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FTR_TEX1709 - Residence time should be at least greater than 30 days ?

  The SAP error message FTR_TEX1709, which states "Residence time should be at least greater than 30 days," typically occurs in the context of financial transactions, particularly in the area of treasury and risk management. This error is related to the residence time of a financial instrument or transaction, which is a measure of how long an asset or liability is held before it is settled or matured.
  Cause:
  The error is triggered when a financial transaction or instrument is set up with a residence time that is less than the required minimum of 30 days. This can happen due to:
  
  Incorrect Configuration: The settings for the financial instrument may not comply with the business rules or regulatory requirements that dictate a minimum holding period.
  Data Entry Error: When entering transaction details, the residence time may have been mistakenly set to a value below 30 days.
  Business Process Changes: Changes in business processes or regulations may have introduced new requirements that were not reflected in the system configuration.
  
  Solution:
  To resolve the FTR_TEX1709 error, you can take the following steps:
  
  Review Transaction Details: Check the details of the transaction or financial instrument that triggered the error. Ensure that the residence time is set correctly.
  Adjust Residence Time: If the residence time is indeed less than 30 days, modify it to meet the minimum requirement. This may involve changing the transaction date or adjusting the terms of the financial instrument.
  Configuration Check: If the error persists, review the configuration settings in the SAP system related to treasury and risk management. Ensure that the rules governing residence time are correctly set up.
  Consult Documentation: Refer to SAP documentation or guidelines related to treasury management to understand the specific requirements for residence time.
  Engage with SAP Support: If you are unable to resolve the issue, consider reaching out to SAP support for assistance. They can provide insights based on the specific version of SAP you are using and any recent updates or patches.
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional context.
  Business Rules: Familiarize yourself with the business rules and regulations that apply to the financial instruments you are working with, as these may dictate the required residence time.
  Training and Documentation: Ensure that users involved in entering or managing financial transactions are trained on the importance of residence time and how to correctly set it in the system.
  
  By following these steps, you should be able to address the FTR_TEX1709 error and ensure compliance with the required residence time for financial transactions in SAP.