Ok, I really appreciate you all.
System went down again, and just now i am able to work on this issue.
I had to maintain the following as no entries were performed
T-Code OBA0
T-Code OMRB
T-Code OBA4
T-Code OBA3 has been already maintained
T-Code OB57 is already maintained, but is it reading the Tolerance group from T-Code OBA3 ?
Error message Gone.
Now a new error of course surfaced !
"Define A Fiscal Year Variant FIRST for Company Code"