How To Fix AA742 - Period version & in company code & has not been defined

SAP Error Message - Details

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 742

• Message text: Period version & in company code & has not been defined

What causes this issue?

The period version &V1& has been allocated to company code &V2& in
Financial Accounting.
This period version has not been (is no longer) defined.

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?

Define period version &V1&.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AA742 - Period version & in company code & has not been defined ?

  The SAP error message AA742 indicates that a specific period version has not been defined for a particular company code in the Asset Accounting (AA) module. This error typically arises when you attempt to perform an action related to asset accounting, such as posting an asset transaction, and the system cannot find the necessary configuration for the specified period version.
  Cause:
  
  Missing Configuration: The period version for the specified company code has not been set up in the system.
  Incorrect Period Version: The period version being referenced may not be valid or may not exist for the company code in question.
  Data Entry Error: There may be a typo or incorrect entry in the transaction that references the period version.
  
  Solution:
  To resolve the AA742 error, follow these steps:
  
  
  Check Period Version Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to Transaction Code OAYZ (or use the menu path: Accounting > Asset Accounting > Periodic Processing > Period Version).
  Verify if the period version is defined for the relevant company code. If it is not defined, you will need to create it.
  
  
  
  Define a New Period Version:
  
  If the period version does not exist, you can create it by:
  
  Selecting the option to create a new period version.
  Entering the necessary details, including the company code and the fiscal year variant.
  Save your changes.
  
  
  
  
  
  Check for Validity:
  
  Ensure that the period version you are trying to use is valid for the fiscal year and the company code you are working with.
  
  
  
  Review Transaction Data:
  
  Double-check the transaction data you are entering to ensure that the correct period version is being referenced.
  
  
  
  Consult Documentation:
  
  If you are unsure about the configuration, refer to SAP documentation or consult with your SAP administrator or functional consultant for guidance.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OAYZ: Define Period Versions
  OAYR: Assign Period Versions to Company Codes
  
  
  SAP Notes: Check for any relevant SAP Notes that may provide additional insights or updates related to this error.
  User Roles: Ensure that you have the necessary authorizations to make changes to the Asset Accounting configuration.
  
  By following these steps, you should be able to resolve the AA742 error and continue with your asset accounting processes in SAP.