How To Fix BP862 - Enter a fiscal year that corresponds to the posting date

SAP Error Message - Details

• Message type: E = Error

• Message class: BP - Budgeting and planning

• Message number: 862

• Message text: Enter a fiscal year that corresponds to the posting date

What causes this issue?

The system automatically determines the fiscal year from the posting
date entered. However, the fiscal year you have entered, &V1&, differs
from the posting date.

System Response

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

How to fix this error?

Either do not enter a fiscal year or enter the fiscal year that
corresponds to the posting date.

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 BP862 - Enter a fiscal year that corresponds to the posting date ?

  The SAP error message BP862 ("Enter a fiscal year that corresponds to the posting date") typically occurs when there is a mismatch between the fiscal year you are trying to enter and the posting date of the transaction. This error is common in financial transactions where the fiscal year must align with the date of the transaction being recorded.
  Cause:
  
  Posting Date Mismatch: The posting date you have entered does not fall within the fiscal year that is currently open in the system.
  Fiscal Year Settings: The fiscal year settings in the system may not be configured correctly, or the fiscal year may have been closed.
  Document Type Restrictions: Certain document types may have restrictions on the fiscal years they can post to.
  
  Solution:
  
  
  Check Posting Date: Verify the posting date you are using. Ensure that it falls within the open fiscal year. You can do this by checking the fiscal year settings in the configuration.
  
  
  Open Fiscal Year: If the fiscal year is closed, you may need to open it again in the system. This can be done by navigating to the appropriate configuration settings in SAP (Transaction Code: OB52) and adjusting the periods accordingly.
  
  
  Adjust Fiscal Year Settings: If the fiscal year settings are incorrect, you may need to adjust them. This includes ensuring that the fiscal year variant is correctly assigned to the company code.
  
  
  Use Correct Document Type: Ensure that you are using the correct document type that allows posting in the desired fiscal year.
  
  
  Consult with Finance Team: If you are unsure about the fiscal year settings or how to proceed, consult with your finance or accounting team to ensure compliance with your organization's financial policies.
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB52: To maintain the open and closed periods for posting.
  OBA7: To check and maintain the fiscal year variant settings.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to fiscal year postings.
  
  
  Documentation: Review SAP documentation or help files related to financial accounting and fiscal year management for more detailed guidance.
  
  
  By following these steps, you should be able to resolve the BP862 error and successfully post your transaction.