How To Fix AA740 - Posting is in new fiscal year

AA740 - Overview

• 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.

AA740 - Details

• 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