How To Fix /ATL/ASSET010 - Period (&) is in the past and is not allowed

SAP Error Message - Details

• Message type: E = Error

• Message class: /ATL/ASSET -

• Message number: 010

• Message text: Period (&) is in the past and is not allowed

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message /ATL/ASSET010 - Period (&) is in the past and is not allowed ?

  The SAP error message /ATL/ASSET010 Period (&) is in the past and is not allowed typically occurs in the context of asset accounting when you attempt to post a transaction (such as an asset acquisition, transfer, or retirement) for a period that has already closed. This is a common issue in financial systems where periods are defined for accounting purposes, and transactions are restricted to open periods to maintain data integrity.
  Cause:
  
  Closed Posting Period: The period you are trying to post to has been closed in the system, meaning that no further transactions can be recorded for that period.
  Configuration Settings: The system may be configured to prevent postings to past periods as a control measure to ensure accurate financial reporting.
  User Authorization: The user may not have the necessary authorization to post to prior periods, even if the system allows it.
  
  Solution:
  
  
  Check Posting Periods:
  
  Go to the transaction code OB52 to check the open and closed posting periods for your company code. Ensure that the period you are trying to post to is open.
  If the period is closed, you may need to open it temporarily if your business processes allow for it.
  
  
  
  Adjust Configuration:
  
  If you need to post to a closed period regularly, consider adjusting the configuration settings in your financial accounting settings. However, this should be done with caution and in accordance with your organization's policies.
  
  
  
  Use a Different Period:
  
  If possible, consider posting the transaction to the current or a future period instead of the closed period.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about the implications of opening a closed period or changing configurations, consult with your finance team or SAP administrator for guidance.
  
  
  
  Authorization Check:
  
  Ensure that you have the necessary authorizations to post to the desired period. If not, contact your system administrator to request the appropriate permissions.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB52 (for managing posting periods) and AS01 (for asset creation) to navigate the system effectively.
  SAP Notes: Check SAP Notes for any specific patches or updates related to asset accounting and posting periods.
  Documentation: Review SAP documentation or user manuals related to asset accounting for best practices and guidelines on handling posting periods.
  
  By following these steps, you should be able to resolve the error and proceed with your asset accounting transactions.