How To Fix FAA_CMP057 - Ledger &2, depreciation area &1: Closed fiscal year is invalid

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 057

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

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CMP057 - Ledger &2, depreciation area &1: Closed fiscal year is invalid ?

  The SAP error message FAA_CMP057 indicates that there is an issue with the fiscal year being closed for a specific ledger and depreciation area in the Asset Accounting (FI-AA) module. This error typically arises when you attempt to post transactions or perform activities related to asset accounting in a fiscal year that has already been closed.
  Cause:
  
  Closed Fiscal Year: The primary cause of this error is that the fiscal year for the specified ledger and depreciation area has been closed. In SAP, once a fiscal year is closed, no further postings can be made to that year.
  Incorrect Configuration: There may be a configuration issue where the system is trying to access a closed fiscal year due to incorrect settings in the asset accounting configuration.
  Posting Date: The posting date of the transaction you are trying to execute falls within a closed fiscal year.
  
  Solution:
  
  Check Fiscal Year Status: Verify the status of the fiscal year for the specified ledger and depreciation area. You can do this by navigating to the Asset Accounting configuration and checking the fiscal year settings.
  Change Posting Date: If the posting date of your transaction falls within a closed fiscal year, change the posting date to a valid open fiscal year.
  Open the Fiscal Year: If necessary and if it aligns with your business processes, you can consider reopening the closed fiscal year. This is typically done through transaction code OB52 (Maintain Fiscal Year Variants) where you can adjust the posting periods.
  Review Configuration: Ensure that the configuration for the asset accounting is set up correctly, particularly the settings related to fiscal year closing.
  Consult Documentation: Refer to SAP documentation or consult with your SAP support team for specific guidance on handling fiscal year closures and related transactions.
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB52: To maintain the fiscal year variant and open/close periods.
  AS03: To display asset master data and check the depreciation area settings.
  S_ALR_87011963: To view asset history and check for any discrepancies.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to this error message. You can search for notes in the SAP Support Portal.
  
  
  User Authorization: Ensure that you have the necessary authorizations to perform the actions required to resolve this error.
  
  
  By following these steps, you should be able to identify the cause of the FAA_CMP057 error and implement a suitable solution.