How To Fix AB074 - 'Asset values at FY start' not possible because following year open

SAP Error Message - Details

• Message type: E = Error

• Message class: AB -

• Message number: 074

• Message text: 'Asset values at FY start' not possible because following year open

What causes this issue?

You already opened the next fiscal year in company code &V1&. This is
not allowed in combination with the 'Asset values at fiscal year start'
indicator.

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?

Instead set the 'Reduce depreciation simulation base of planned
investments by capitalizations' indicator.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AB074 - 'Asset values at FY start' not possible because following year open ?

  The SAP error message AB074, which states "Asset values at FY start not possible because following year open," typically occurs in the context of asset accounting when you attempt to perform certain operations (like posting or running reports) that require the fiscal year to be closed, but the following fiscal year is still open.
  Cause:
  
  Open Fiscal Year: The primary cause of this error is that the system has an open fiscal year that prevents the calculation or posting of asset values for the current fiscal year. This is often due to the configuration settings in the financial accounting module.
  Posting Period Settings: The posting periods for the asset accounting may not be properly configured, allowing postings to the next fiscal year.
  Year-End Closing: The year-end closing process for asset accounting has not been completed, which is necessary to finalize the asset values for the current fiscal year.
  
  Solution:
  
  Close the Following Fiscal Year: If possible, close the following fiscal year in the system. This can be done through the transaction code OB52 (Open and Close Posting Periods) to restrict postings to the next fiscal year.
  Check Posting Periods: Review the posting period settings for asset accounting. Ensure that the periods are correctly defined and that the current fiscal year is set to allow postings while the next fiscal year is closed.
  Complete Year-End Closing: Ensure that the year-end closing process for asset accounting has been completed. This includes running the necessary closing programs and ensuring that all required postings have been made.
  Consult with Finance Team: If you are unsure about closing the fiscal year or the implications of doing so, consult with your finance or accounting team to ensure that all necessary steps are taken without disrupting financial reporting.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  OB52: To manage posting periods.
  AJAB: To perform year-end closing for asset accounting.
  S_ALR_87011963: To view asset history and values.
  
  
  Documentation: Review SAP documentation or help files related to asset accounting and fiscal year-end processes for more detailed guidance.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues or provide patches related to this error message.
  
  By following these steps, you should be able to resolve the AB074 error and ensure that your asset accounting processes run smoothly.