How To Fix FAA_CMP108 - Closed fiscal year is set to &1

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 108

• Message text: Closed fiscal year is set to &1

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

What else can you do?

First, use our AnswerBot below to get a possible cause and solution (requires a premium subscription).

Also, review the in-depth Common Questions & Answers listed below; you could discover a solution there or be able to connect with others who have faced similar challenges.

You can also try searching the SAP support portal (support.sap.com) but you need a special user ID to access it. It is possible that an SAP support note exists that provides additional details about the mistake or even steps for fixing it.

Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CMP108 - Closed fiscal year is set to &1 ?

  The SAP error message FAA_CMP108 indicates that a closed fiscal year is set for the asset accounting transaction you are trying to process. This typically occurs when you attempt to post transactions related to fixed assets in a fiscal year that has already been closed in the system.
  Cause:
  The error arises when:
  
  You are trying to post an asset transaction (like acquisition, transfer, or retirement) for a fiscal year that has been closed.
  The system settings prevent any changes or postings to closed fiscal years to maintain data integrity and compliance with accounting standards.
  
  Solution:
  To resolve the FAA_CMP108 error, you can consider the following options:
  
  
  Check Fiscal Year Status:
  
  Verify the status of the fiscal year in question. You can do this by navigating to the relevant configuration in SAP (Transaction code: OB52) to see which periods are open or closed.
  
  
  
  Open the Fiscal Year:
  
  If it is necessary to post transactions for the closed fiscal year, you may need to open that fiscal year temporarily. This can be done by:
  
  Going to Transaction code: OB52.
  Adjusting the period settings to allow postings for the closed fiscal year.
  
  
  Note: This should be done with caution and typically requires authorization, as it can affect financial reporting.
  
  
  
  Post in an Open Fiscal Year:
  
  If possible, consider posting the transaction in the current or next open fiscal year instead of the closed one. This is the preferred approach to maintain compliance with accounting practices.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about the implications of opening a closed fiscal year or if you need to make adjustments, consult with your finance or accounting team for guidance.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB52: Used to manage the open and closed periods for financial accounting.
  AS01: Create Asset.
  AS02: Change Asset.
  AS03: Display Asset.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may provide additional insights or updates regarding this error message.
  
  
  Documentation: Review SAP documentation related to Asset Accounting for best practices on managing fiscal years and asset transactions.
  
  
  Always ensure that any changes made to fiscal year settings are documented and communicated to relevant stakeholders to maintain transparency and compliance.