How To Fix ACE123 - The last closed fiscal year has not been defined for &1

SAP Error Message - Details

• Message type: E = Error

• Message class: ACE - Nachrichten zur Accrual Engine

• Message number: 123

• Message text: The last closed fiscal year has not been defined for &1

What causes this issue?

In Accrual Engine Customizing, the last closed fiscal year has not been
specified for company code &V1&.

System Response

Processing cannot be continued.

How to fix this error?

Make the corresponding setting in Accrual Engine Customizing.
Example:
The current fiscal year cannot be specified as a closed fiscal year. The
previous fiscal year, however, can be specified as the last closed
fiscal year. This then means that no more accrual postings can be made
in this fiscal year.

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message ACE123 - The last closed fiscal year has not been defined for &1 ?

  The SAP error message ACE123 ("The last closed fiscal year has not been defined for &1") typically occurs in the context of financial accounting when the system is unable to find a defined last closed fiscal year for a specific company code or controlling area. This can happen during various financial processes, such as posting transactions or running reports.
  
  Cause:
  
  Missing Configuration: The last closed fiscal year has not been set up in the system for the specified company code or controlling area.
  Fiscal Year Variant Issues: The fiscal year variant assigned to the company code may not have the last closed fiscal year defined.
  Data Migration: If data has been migrated from another system, the fiscal year settings may not have been properly transferred.
  System Upgrade: After an upgrade, certain configurations may need to be re-validated or re-entered.
  
  
  Solution:
  
  
  Define Last Closed Fiscal Year:
  
  Go to the transaction code OB52 (Maintain Fiscal Year Variants).
  Check the settings for