How To Fix 1M034 - Current Posting Date for Balancing Postings: &1

SAP Error Message - Details

• Message type: E = Error

• Message class: 1M - BKK: Abschluß

• Message number: 034

• Message text: Current Posting Date for Balancing Postings: &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.

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Smart SAP Assistant

• What is the cause and solution for SAP error message 1M034 - Current Posting Date for Balancing Postings: &1 ?

  The SAP error message 1M034 indicates that there is an issue with the current posting date for balancing postings. This error typically arises when the system detects that the posting date for a transaction does not align with the allowed posting periods or is outside the permissible range for the specified account or transaction type.
  Cause:
  
  Posting Date Issue: The posting date of the transaction is either in a closed period or not allowed for the specific account.
  Period Locking: The financial period may be locked for posting, preventing any transactions from being recorded in that period.
  Configuration Settings: The configuration settings for the company code or the specific account may restrict postings to certain dates or periods.
  Balancing Postings: The error specifically relates to balancing postings, which means that the system is trying to create a balancing entry that does not comply with the date restrictions.
  
  Solution:
  
  Check Posting Date: Verify the posting date of the transaction. Ensure that it falls within an open posting period for the relevant company code.
  Open Posting Periods: Go to the transaction code OB52 to check the open and closed posting periods for your company code. If necessary, extend the open period to allow the posting.
  Review Account Settings: Check the account settings in the configuration (transaction code OBY6) to ensure that the account is not restricted for the posting date in question.
  Adjust Transaction: If the posting date is incorrect, adjust the transaction to use a valid posting date that complies with the open periods.
  Consult with Finance Team: If you are unsure about the correct posting periods or configurations, consult with your finance team or SAP administrator for guidance.
  
  Related Information:
  
  Transaction Codes: 
  
  OB52: To manage posting periods.
  OBY6: To check account settings.
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to this error message.
  Documentation: Review SAP documentation related to financial postings and period management for further insights.
  
  By following these steps, you should be able to resolve the error message 1M034 and successfully process your balancing postings.