How To Fix FAA_CMP079 - The last closed fiscal year &1 is the same as the current fiscal year &2

FAA_CMP079 - Overview

• Message type: E = Error

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

• Message number: 079

• Message text: The last closed fiscal year &1 is the same as the current fiscal year &2

What causes this issue?

The fiscal year &v1& was closed and now the closed fiscal year is
identical with the current fiscal year &v2&. This is usually only the
case if you want to deactivate the company code.
Else, a fiscal year change is necessary.

System Response

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

How to fix this error?

If you do <ZH>not</> want to perform the change, don't save your change
but reverse it. Else you can continue.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CMP079 - The last closed fiscal year &1 is the same as the current fiscal year &2 ?

  The SAP error message FAA_CMP079 indicates that there is an issue with the fiscal year settings in the Asset Accounting (FI-AA) module. Specifically, it means that the last closed fiscal year is the same as the current fiscal year, which is not allowed in the system. This can occur during processes such as asset postings, transfers, or when trying to close the fiscal year.
  
  Cause:
  
  Fiscal Year Configuration: The fiscal year settings in the system may not be configured correctly, leading to the last closed fiscal year being incorrectly set to the current fiscal year.
  Year-End Closing Process: The year-end closing process may not have been executed properly, resulting in the system not recognizing the transition from one fiscal year to the next.
  Posting Periods: The posting periods may not be opened or closed correctly, causing confusion in the fiscal year settings.
  
  
  Solution:
  
  
  Check Fiscal Year Settings:
  
  Go to the configuration settings for Asset Accounting and verify