How To Fix AC760 - Closed fiscal years cannot be reset

SAP Error Message - Details

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 760

• Message text: Closed fiscal years cannot be reset

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message AC760 - Closed fiscal years cannot be reset ?

  The SAP error message AC760, which states "Closed fiscal years cannot be reset," typically occurs in the context of asset accounting when you attempt to make changes to asset data or perform certain transactions that affect closed fiscal years. Here’s a breakdown of the cause, potential solutions, and related information:
  Cause:
  
  
  Closed Fiscal Year: The error indicates that you are trying to perform an action (like resetting an asset's depreciation or changing asset master data) in a fiscal year that has already been closed. In SAP, once a fiscal year is closed, certain transactions cannot be reversed or modified to maintain the integrity of financial reporting.
  
  
  Configuration Settings: The system settings may prevent any changes to closed fiscal years to ensure compliance with accounting standards.
  
  
  Solution:
  
  
  Check Fiscal Year Status: Verify the status of the fiscal year in question. You can do this by checking the fiscal year variant settings in the configuration. If the fiscal year is indeed closed, you will need to take appropriate actions.
  
  
  Open the Fiscal Year: If you need to make changes, you may consider temporarily reopening the fiscal year. This can be done through the following steps:
  
  Go to the transaction code OB52 (Change View "Periods" Overview).
  Adjust the period settings to allow postings in the closed fiscal year. Note that this should be done with caution and typically requires authorization.
  
  
  
  Consult with Finance Team: Before making any changes, consult with your finance or accounting team to ensure that reopening a fiscal year aligns with your organization's policies and compliance requirements.
  
  
  Use Year-End Closing Procedures: If you need to make adjustments for prior periods, consider using the year-end closing procedures or adjustments that are designed for this purpose, rather than reopening the fiscal year.
  
  
  Transaction Codes: Familiarize yourself with relevant transaction codes that may help in managing asset accounting, such as:
  
  AS02: Change Asset Master Record
  AB01: Post Document for Asset
  AB08: Unplanned Depreciation
  
  
  
  Related Information:
  
  Documentation: Refer to SAP Help documentation for Asset Accounting to understand the implications of closing and reopening fiscal years.
  User Authorizations: Ensure that you have the necessary authorizations to make changes to fiscal year settings.
  Audit Trail: Keep in mind that reopening a fiscal year may have implications for audit trails and financial reporting, so document any changes made for future reference.
  
  Conclusion:
  The AC760 error is a protective measure in SAP to maintain the integrity of financial data. Always proceed with caution when dealing with closed fiscal years, and ensure that any actions taken are in compliance with your organization's accounting policies.