How To Fix AC504 - Company code & does not have a valid fiscal year variant

AC504 - Overview

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 504

• Message text: Company code & does not have a valid fiscal year variant

What causes this issue?

No valid fiscal year variant has been defined in Financial Accounting
for company code &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?

Check the definition of fiscal year variant &V2& that is assigned to
this company code.

Error message extract from SAP system. Copyright SAP SE.

AC504 - Details

• The SAP error message AC504 indicates that the specified company code does not have a valid fiscal year variant assigned to it. This error typically occurs when you are trying to perform an action related to asset accounting, such as posting an asset transaction, and the system cannot determine the fiscal year variant for the company code in question.
  
  Cause:
  
  Missing Fiscal Year Variant: The company code is not assigned a fiscal year variant in the configuration.
  Incorrect Configuration: The fiscal year variant assigned may not be valid or properly configured.
  Company Code Not Active: The company code may not be active or properly set up in the system.
  
  
  Solution:
  To resolve the AC504 error, follow these steps:
  
  
  Check Company Code Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to SPRO (Customizing) ? Enterprise Structure ? Definition ? Financial Accounting ? Define Company Code.
  Select the relevant company code and check if a fiscal year variant is assigned.
  
  
  
  Assign a