How To Fix AA740 - Posting is in new fiscal year

SAP Error Message - Details

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 740

• Message text: Posting is in new fiscal year

What causes this issue?

You have selected a posting in a new fiscal year. However, to do this
the last period in the previous fiscal year must have received
postings.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Post to the last period in the previous year first.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AA740 - Posting is in new fiscal year ?

  The SAP error message AA740 ("Posting is in new fiscal year") typically occurs when you attempt to post an asset transaction in a new fiscal year without the necessary configurations or authorizations in place. This error is common in the Asset Accounting (FI-AA) module of SAP.
  Cause:
  
  Fiscal Year Change: The fiscal year has changed, and the system is configured to prevent postings to the previous fiscal year.
  Asset Master Data: The asset master data may not be properly set up for the new fiscal year.
  Authorization Issues: The user may not have the necessary authorizations to post in the new fiscal year.
  Period Closing: The posting period for the new fiscal year may not be open, or the period may be closed for posting.
  
  Solution:
  
  
  Open Posting Period: Ensure that the posting period for the new fiscal year is open. You can do this by navigating to:
  
  Transaction Code: OB52
  Check the settings for the new fiscal year and ensure that the relevant periods are open for posting.
  
  
  
  Check Asset Master Data: Verify that the asset master data is correctly set up for the new fiscal year. This includes checking the depreciation areas and ensuring that they are active.
  
  
  Authorization Check: Ensure that the user has the necessary authorizations to post transactions in the new fiscal year. This may involve checking user roles and permissions.
  
  
  Transaction Type: Make sure that the transaction type you are using is allowed for postings in the new fiscal year.
  
  
  Consult with Finance Team: If you are unsure about the settings or configurations, consult with your finance or SAP support team to ensure that everything is set up correctly for the new fiscal year.
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  AS01: Create Asset
  AS02: Change Asset
  AS03: Display Asset
  OB52: Open/Close Posting Periods
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to fiscal year-end processing or asset accounting.
  Documentation: Review SAP documentation on Asset Accounting and fiscal year-end processes for best practices and guidelines.
  
  By following these steps, you should be able to resolve the AA740 error and successfully post your asset transactions in the new fiscal year.