How To Fix BP595 - Update run only possible for closed financial years

SAP Error Message - Details

• Message type: E = Error

• Message class: BP - Budgeting and planning

• Message number: 595

• Message text: Update run only possible for closed financial years

What causes this issue?

You have tried to close the current fiscal year or a future fiscal year
in a production run.
Since the process cannot be reversed, you may only close a fiscal year
which has elapsed.

System Response

Processing automatically takes place in test mode.

How to fix this error?

Start the transaction again for a fiscal year which has elapsed.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message BP595 - Update run only possible for closed financial years ?

  The SAP error message BP595, which states "Update run only possible for closed financial years," typically occurs when you attempt to perform a financial update or posting in a financial year that is not yet closed. This is a safeguard in SAP to ensure that financial data integrity is maintained and that no changes are made to finalized financial periods.
  Cause:
  
  Open Financial Year: The financial year you are trying to update is still open, meaning that postings can still be made to that year.
  Configuration Settings: The system may be configured to prevent updates to certain financial years based on company policy or accounting standards.
  Period Locking: The specific posting period within the financial year may be locked, preventing any updates.
  
  Solution:
  
  
  Close the Financial Year: If you are sure that no further postings are required for the financial year in question, you can proceed to close the financial year. This is typically done through the transaction code OB52 (Maintain Posting Periods) or through the year-end closing process.
  
  
  Check Posting Periods: Use transaction code OB52 to check if the posting period is open or closed. If the period is open, you may need to close it or ensure that you are posting to the correct period.
  
  
  Review Configuration: Ensure that the configuration settings in your SAP system allow for updates in the desired financial year. This may involve checking the settings in the Financial Accounting (FI) module.
  
  
  Consult with Finance Team: If you are unsure about closing a financial year or making changes, consult with your finance or accounting team to ensure compliance with internal policies and regulations.
  
  
  Use Correct Transaction: Ensure that you are using the correct transaction for the type of posting you are trying to perform. Some transactions may have restrictions based on the financial year status.
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  OB52: Maintain Posting Periods
  F.01: Financial Statement
  F.16: Year-End Closing
  
  
  SAP Notes: Check SAP Notes for any specific guidance or updates related to this error message.
  Documentation: Review SAP documentation for financial year-end closing procedures and best practices.
  
  By following these steps, you should be able to resolve the BP595 error and proceed with your financial updates as needed.