How To Fix AC171 - Closed fiscal year is not in the past

SAP Error Message - Details

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 171

• Message text: Closed fiscal year is not in the past

What causes this issue?

Closed fiscal year &V2& has to be before the current fiscal year &V1&.

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?

Correct your specifications.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AC171 - Closed fiscal year is not in the past ?

  The SAP error message AC171, "Closed fiscal year is not in the past," typically occurs when you attempt to post a transaction or make changes to asset accounting in a fiscal year that has already been closed. This error is a safeguard to prevent changes to financial data in periods that should be finalized.
  Cause:
  
  Closed Fiscal Year: The fiscal year you are trying to post to has been closed in the system, meaning that no further postings should be allowed.
  Incorrect Date: The posting date you are using falls within a closed fiscal year.
  Configuration Issues: There may be configuration settings that are not allowing postings to be made in the desired fiscal year.
  
  Solution:
  
  Check Fiscal Year Status: Verify the status of the fiscal year in question. You can do this by navigating to the relevant configuration settings in SAP (Transaction Code: OB52) to see which periods are open or closed.
  Use a Valid Posting Date: Ensure that the posting date you are using is in an open fiscal year. If you need to post to a closed year for any reason, you may need to reopen that fiscal year temporarily (if allowed by your organization's policies).
  Reopen Fiscal Year: If necessary and permissible, you can reopen the fiscal year by adjusting the settings in the configuration (Transaction Code: OB52). However, this should be done with caution and typically requires approval from financial management.
  Consult with Finance Team: If you are unsure about the implications of reopening a fiscal year or if you need to make adjustments, consult with your finance or accounting team for guidance.
  
  Related Information:
  
  Transaction Codes: 
  
  OB52: To manage the open and closed periods for financial postings.
  AS02: To change asset master data if needed.
  
  
  Documentation: Refer to SAP documentation or help files for more detailed information on asset accounting and fiscal year management.
  User Roles: Ensure that you have the appropriate permissions to make changes to fiscal year settings or asset postings.
  
  Best Practices:
  
  Always ensure that you are aware of the implications of changing fiscal year settings, as this can affect financial reporting and compliance.
  Maintain clear communication with your finance team regarding any necessary adjustments to fiscal years or asset postings.