How To Fix AC709 - Posting will take place in past fiscal year

SAP Error Message - Details

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 709

• Message text: Posting will take place in past fiscal year

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message AC709 - Posting will take place in past fiscal year ?

  The SAP error message AC709, which states "Posting will take place in past fiscal year," typically occurs when you attempt to post a transaction in a period that has already been closed in the fiscal year. This is a common issue in financial accounting and asset accounting modules in SAP.
  Cause:
  
  Closed Fiscal Year: The fiscal year you are trying to post to has been closed, meaning that no further postings can be made to that year.
  Period Locking: The specific posting period may be locked for posting due to configuration settings in the system.
  Incorrect Date: The document date or posting date may fall into a closed period.
  
  Solution:
  
  Check Fiscal Year Status: Verify if the fiscal year is indeed closed. You can do this by checking the fiscal year settings in the configuration (Transaction Code: OB52).
  Open the Period: If necessary and appropriate, you can open the closed period for posting. This can be done by:
  
  Going to Transaction Code: OB52.
  Adjusting the period settings to allow postings for the required period.
  Note: This should be done with caution and typically requires authorization.
  
  
  Change Posting Date: If the posting is not urgent, consider changing the posting date to a period that is open.
  Consult with Finance Team: If you are unsure about the implications of opening a closed period, consult with your finance or accounting team to ensure compliance with accounting policies.
  
  Related Information:
  
  Transaction Codes: 
  
  OB52: To manage posting periods.
  OAAQ: To check and manage asset accounting periods.
  
  
  Authorization: Ensure you have the necessary permissions to make changes to posting periods.
  Impact on Financial Reporting: Be aware that opening a closed period can affect financial reporting and should be done judiciously.
  Documentation: Always document any changes made to the posting periods for audit purposes.
  
  If the issue persists after trying the above solutions, it may be beneficial to consult with your SAP support team or refer to SAP Notes for any specific patches or updates related to this error.