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

SAP Error Message - Details

• 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.

What else can you do?

First, use our AnswerBot below to get a possible cause and solution (requires a premium subscription).

Also, review the in-depth Common Questions & Answers listed below; you could discover a solution there or be able to connect with others who have faced similar challenges.

You can also try searching the SAP support portal (support.sap.com) but you need a special user ID to access it. It is possible that an SAP support note exists that provides additional details about the mistake or even steps for fixing it.

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 the configuration settings in the Asset Accounting module. You can check the settings in the following path:
  
  SPRO ? Financial Accounting ? Asset Accounting ? Periodic Processing ? Closing ? Define Fiscal Year Change
  Ensure that the settings align with your organization's policies regarding open fiscal years.
  
  
  
  Consult with Your Finance Team: If you are unsure about closing a fiscal year or if there are pending transactions, consult with your finance or accounting team to ensure that all necessary postings are completed before closing any fiscal year.
  
  
  Use Transaction Codes: You can use transaction codes like OAAQ (for fiscal year change) to manage the fiscal years and check which years are currently open.
  
  
  Review User Authorizations: Ensure that the user attempting to post has the necessary authorizations to perform transactions in the asset accounting module.
  
  
  Related Information:
  
  SAP Notes: Check SAP Notes for any specific updates or patches related to this error message. Sometimes, there may be specific fixes or recommendations provided by SAP.
  Documentation: Refer to the SAP Help Portal for detailed documentation on Asset Accounting and fiscal year management.
  Training: If this is a recurring issue, consider providing training for users on how to manage fiscal years and the implications of keeping multiple years open.
  
  By following these steps, you should be able to resolve the FAA_CMP051 error and manage your fiscal years effectively in SAP.