How To Fix RECEPR075 - An update period has not been defined for the contract type

SAP Error Message - Details

• Message type: E = Error

• Message class: RECEPR - Messages for Contract Valuation

• Message number: 075

• Message text: An update period has not been defined for the contract type

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message RECEPR075 - An update period has not been defined for the contract type ?

  The SAP error message RECEPR075 indicates that an update period has not been defined for a specific contract type in the SAP system. This error typically arises in the context of contract management, particularly when dealing with rental or leasing contracts in the SAP Real Estate Management (RE) module.
  Cause:
  The primary cause of this error is that the system requires an update period to be defined for the contract type you are working with, but it has not been set up in the configuration. The update period is essential for the system to know how often it should process updates related to the contract, such as billing or adjustments.
  Solution:
  To resolve this error, you need to define the update period for the relevant contract type. Here are the steps to do this:
  
  
  Access the Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to the following path: 
  SPRO -> SAP Reference IMG -> Real Estate Management -> Contract Management -> Define Contract Types
  
  
  
  
  Select the Contract Type:
  
  In the configuration screen, find the contract type that is causing the error.
  
  
  
  Define the Update Period:
  
  Look for the field related to the update period. This may be labeled as "Update Period" or similar.
  Enter the appropriate value for the update period based on your business requirements (e.g., monthly, quarterly).
  
  
  
  Save the Changes:
  
  After entering the necessary information, save your changes.
  
  
  
  Test the Changes:
  
  Go back to the transaction or process that was generating the error and test to see if the issue has been resolved.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like RECN (for contract management) or REIS (for real estate information system) to navigate through the relevant areas.
  Documentation: Refer to SAP documentation or help files for more detailed information on contract management and configuration settings.
  User Roles: Ensure that you have the necessary authorizations to make changes in the configuration settings.
  Consulting SAP Notes: If the issue persists or if you encounter additional errors, consider checking SAP Notes for any known issues or patches related to contract management.
  
  By following these steps, you should be able to resolve the RECEPR075 error and ensure that your contract types are properly configured for updates.