How To Fix AW380 - Asset value date must be in fiscal year of posting date

SAP Error Message - Details

• Message type: E = Error

• Message class: AW - AuC messages

• Message number: 380

• Message text: Asset value date must be in fiscal year of posting date

Self-Explanatory Message

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• What is the cause and solution for SAP error message AW380 - Asset value date must be in fiscal year of posting date ?

  The SAP error message AW380, which states "Asset value date must be in fiscal year of posting date," typically occurs when you are trying to post a transaction related to an asset (such as an acquisition or transfer) and the value date of the asset does not align with the fiscal year of the posting date.
  Cause:
  
  Mismatch of Dates: The value date you are trying to enter for the asset transaction is outside the fiscal year of the posting date. For example, if the posting date is in 2023, the value date must also be in 2023.
  Fiscal Year Settings: The fiscal year settings in your SAP system may not be configured correctly, or the fiscal year may have been closed for the period you are trying to post.
  Incorrect Transaction Date: The date you are using for the transaction may be incorrect or not aligned with the company's accounting practices.
  
  Solution:
  
  Check Dates: Ensure that the value date you are entering is within the same fiscal year as the posting date. Adjust the value date accordingly.
  Review Fiscal Year Settings: Verify the fiscal year settings in your SAP system. Make sure that the fiscal year is open for the period you are trying to post.
  Adjust Posting Date: If necessary, change the posting date to a date that is within the same fiscal year as the value date.
  Consult with Finance Team: If you are unsure about the correct dates or fiscal year settings, consult with your finance or accounting team to ensure compliance with accounting policies.
  
  Related Information:
  
  Transaction Codes: You may encounter this error while using transaction codes related to asset accounting, such as:
  
  AS01: Create Asset
  AS02: Change Asset
  ABZON: Asset Acquisition
  
  
  Fiscal Year Variant: Check the fiscal year variant assigned to your company code in the configuration settings (Transaction Code: OB29).
  Asset Accounting Configuration: Review the configuration settings for asset accounting to ensure they align with your company's accounting practices.
  
  By addressing the date mismatch and ensuring that the fiscal year settings are correct, you should be able to resolve the AW380 error and successfully post your asset transaction.