How To Fix FAA_CMP078 - Only one open FY is allowed if legacy data transfer is at end of year

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 078

• Message text: Only one open FY is allowed if legacy data transfer is at end of year

What causes this issue?

You have set up a legacy data transfer segment with a transfer date in
the previous fiscal year (&v1&-1).
The status for this legacy data transfer segment is <ZH>not</> yet set
to <LS>Completed</>.

System Response

You are allowed to make legacy data transfer postings in fiscal year
&v1&-1.
Apart from year &v1&-1, only the fiscal year &v1& is allowed to be open.
You are <ZH>not</> allowed to open fiscal year &v1&+1.

How to fix this error?

Before you can open fiscal year &v1&+1, you first have to set the status
for the legacy data transfer segment to <LS>Completed</>.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CMP078 - Only one open FY is allowed if legacy data transfer is at end of year ?

  The SAP error message FAA_CMP078 indicates that there is an issue with the fiscal year (FY) settings in the Asset Accounting (FI-AA) module, particularly when performing a legacy data transfer at the end of the fiscal year. This error typically arises when there is an attempt to transfer legacy data while there are multiple open fiscal years, which is not permitted in this context.
  Cause:
  
  Multiple Open Fiscal Years: The primary cause of this error is that there are multiple fiscal years open in the system. SAP allows only one open fiscal year when performing a legacy data transfer, especially at the end of the fiscal year.
  Configuration Issues: Incorrect configuration of fiscal year settings in the system can also lead to this error.
  Data Transfer Timing: Attempting to perform the legacy data transfer at a time when the system is not set up to allow it (e.g., at the end of the fiscal year) can trigger this error.
  
  Solution:
  
  
  Close Unnecessary Fiscal Years: Check the fiscal year settings in your SAP system. If there are multiple fiscal years open, you need to close the unnecessary ones. This can be done through the transaction code OB52 (Maintain Fiscal Year Variant).
  
  Ensure that only the fiscal year you are working with is open.
  
  
  
  Check Configuration: Review the configuration settings for the fiscal year variant and ensure that they are set correctly. This includes checking the settings for the asset accounting module.
  
  
  Perform Data Transfer in Correct Period: If you are at the end of the fiscal year, ensure that you are performing the legacy data transfer in the correct period and that the system is configured to allow it.
  
  
  Consult Documentation: Refer to SAP documentation or notes related to the FAA_CMP078 error for any specific guidelines or additional steps that may be required.
  
  
  Contact SAP Support: If the issue persists after checking the above points, consider reaching out to SAP support for further assistance.
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB52: To maintain the open and closed fiscal years.
  OAYZ: To check and configure asset accounting settings.
  
  
  
  SAP Notes: Look for relevant SAP Notes that may provide additional insights or solutions related to this error message.
  
  
  Testing: After making changes, it is advisable to test the legacy data transfer process in a development or test environment before applying changes in the production environment.
  
  
  By following these steps, you should be able to resolve the FAA_CMP078 error and successfully perform the legacy data transfer.