How To Fix AC704 - Posting not possible (last closed fiscal year is smaller than posting yr)

AC704 - Overview

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 704

• Message text: Posting not possible (last closed fiscal year is smaller than posting yr)

Self-Explanatory Message

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To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message AC704 - Posting not possible (last closed fiscal year is smaller than posting yr) ?

  The SAP error message AC704 ("Posting not possible (last closed fiscal year is smaller than posting year)") typically occurs when you attempt to post a transaction in a fiscal year that is not open for posting. This error is common in the Asset Accounting (FI-AA) module when the fiscal year you are trying to post to is closed.
  
  Cause:
  
  Closed Fiscal Year: The fiscal year you are trying to post to has been closed in the system. SAP allows postings only in open fiscal years.
  Posting Year Configuration: The system settings may restrict postings to certain fiscal years based on the configuration of the company code or the asset accounting settings.
  
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Fiscal Year Status:
  
  Go to the transaction code OB52 (Change View "Periods": Overview).
  Check the status of the fiscal year you are trying to post to. Ensure that the fiscal year is open for posting.
  
  
  
  Open