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

AB074 - Overview

• 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.

AB074 - Details

• 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,