How To Fix FAA_CMP074 - Reopening of closed fisc. year only possible if current LDT is completed

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 074

• Message text: Reopening of closed fisc. year only possible if current LDT is completed

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CMP074 - Reopening of closed fisc. year only possible if current LDT is completed ?

  The SAP error message FAA_CMP074 indicates that you are trying to reopen a closed fiscal year in the Asset Accounting (FI-AA) module, but the system is preventing this action because the current Last Document Type (LDT) is not completed. This is a common issue when dealing with asset transactions and fiscal year-end processes.
  Cause:
  The error occurs because:
  
  The fiscal year you are trying to reopen has been closed, and SAP requires that all transactions for the current fiscal year be completed before allowing the reopening of a previous fiscal year.
  There may be pending transactions or documents that need to be processed or finalized in the current fiscal year.
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Complete Current Transactions: Ensure that all transactions for the current fiscal year are completed. This includes:
  
  Posting all necessary asset transactions.
  Ensuring that all depreciation runs are completed.
  Verifying that there are no open documents or pending transactions.
  
  
  
  Check Document Types: Review the document types used in the current fiscal year. Make sure that the Last Document Type (LDT) is correctly set and that all necessary postings have been made.
  
  
  Run Depreciation: If you have not yet run the depreciation for the current fiscal year, do so. This is often a requirement before closing or reopening fiscal years.
  
  
  Consult with Finance Team: If you are unsure about the status of transactions or if there are any pending items, consult with your finance or accounting team to ensure that everything is in order.
  
  
  Use Transaction Codes: You can use transaction codes like:
  
  AFAB: To run the depreciation.
  AJAB: To close the fiscal year.
  AJRW: To reopen the fiscal year (if necessary).
  
  
  
  Check Configuration: If the issue persists, check the configuration settings in the Asset Accounting module to ensure that they are set up correctly for fiscal year-end processing.
  
  
  Related Information:
  
  SAP Notes: Check SAP Notes for any specific guidance or updates related to this error message. SAP frequently releases notes that address known issues and provide solutions.
  Documentation: Review the SAP documentation for Asset Accounting to understand the processes involved in closing and reopening fiscal years.
  User Forums: Consider visiting SAP community forums or user groups where similar issues may have been discussed, and solutions shared.
  
  By following these steps, you should be able to resolve the FAA_CMP074 error and successfully reopen the closed fiscal year if necessary.