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

SAP Error Message - Details

• 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 the fiscal year settings. Ensure that the last closed fiscal year is correctly set to the previous year and not the current year.
  
  
  
  Execute Year-End Closing:
  
  If the year-end closing process has not been executed, perform the year-end closing for the previous fiscal year. This can typically be done through transaction code AJAB (Year-End Closing for Asset Accounting).
  
  
  
  Review Posting Periods:
  
  Check the posting periods for the current fiscal year. Ensure that the periods are correctly defined and that the previous fiscal year has been closed. You can do this using transaction code OB52 (Open and Close Posting Periods).
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files related to Asset Accounting and fiscal year-end processes for additional guidance.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for further assistance. They may provide specific guidance based on your system configuration.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  AJAB: Year-End Closing for Asset Accounting
  OB52: Open and Close Posting Periods
  
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error message or provide additional troubleshooting steps.
  Documentation: Review the SAP Help Portal for detailed information on Asset Accounting and fiscal year-end processes.
  
  By following these steps, you should be able to resolve the FAA_CMP079 error and ensure that your fiscal year settings are correctly configured in SAP.