How To Fix FAA_CMP056 - Ledger &2, depreciation area &1: Closed fiscal year is initial

FAA_CMP056 - Overview

• Message type: E = Error

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

• Message number: 056

• Message text: Ledger &2, depreciation area &1: Closed fiscal year is initial

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CMP056 - Ledger &2, depreciation area &1: Closed fiscal year is initial ?

  The SAP error message FAA_CMP056 indicates that there is an issue with the depreciation area in the Asset Accounting module. Specifically, it means that the fiscal year for the specified ledger and depreciation area is closed, and the system is unable to process transactions for that period because it is considered "initial" or not open for posting.
  
  Cause:
  
  Closed Fiscal Year: The fiscal year for the specified ledger and depreciation area has been closed, meaning that no further postings can be made for that year.
  Incorrect Configuration: The configuration for the depreciation area may not be set up correctly, leading to the system not recognizing the fiscal year as open.
  Posting Date: The posting date of the transaction may fall within a closed fiscal year.
  
  
  Solution:
  
  
  Open the Fiscal Year: If you need to post transactions for the closed fiscal year, you can open the fiscal year in the configuration settings. This is typically done in