How To Fix FAA_CMP051 - You are not allowed to have more than 2 fiscal years open

FAA_CMP051 - Overview

• Message type: E = Error

• Message class: FAA_CMP - Asset Accounting: Configuration Object Company Code

• Message number: 051

• Message text: You are not allowed to have more than 2 fiscal years open

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CMP051 - You are not allowed to have more than 2 fiscal years open ?

  The SAP error message FAA_CMP051 indicates that the system is configured to restrict the number of open fiscal years for asset accounting to a maximum of two. This is a common configuration in SAP to ensure that financial data is managed effectively and to prevent errors in financial reporting.
  
  Cause:
  The error occurs when a user attempts to post transactions in asset accounting while there are already two fiscal years open. This restriction is typically set in the system to maintain data integrity and to ensure that users do not inadvertently post to too many open periods, which could complicate financial reporting and reconciliation.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Close the Previous Fiscal Year: If you have completed all necessary postings for the oldest open fiscal year, consider closing it. This will allow you to open a new fiscal year and comply with the two-year limit.
  
  
  Check Configuration Settings: Review