How To Fix FAA_POST052 - Fiscal year &1 must be closed before the legacy data transfer

SAP Error Message - Details

• Message type: E = Error

• Message class: FAA_POST - FIAA Posting Messages (Object-Oriented Kernel)

• Message number: 052

• Message text: Fiscal year &1 must be closed before the legacy data transfer

What causes this issue?

You are entering legacy data for an asset as the total values of fiscal
year &v1&.
However, before you can transfer the values, the fiscal year must be
closed in Asset Accounting.

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?

Close fiscal year &V1& in company code &v2& in Asset Accounting and then
repeat the legacy data transfer.

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_POST052 - Fiscal year &1 must be closed before the legacy data transfer ?

  The SAP error message FAA_POST052 indicates that the fiscal year specified (represented by &1) must be closed before you can perform a legacy data transfer in the Asset Accounting (FI-AA) module. This error typically arises when you are trying to post transactions or transfer data related to fixed assets in a fiscal year that has not been closed.
  Cause:
  
  Open Fiscal Year: The fiscal year you are trying to work with is still open, meaning that transactions can still be posted to it.
  Legacy Data Transfer: The system requires that all transactions for a fiscal year be finalized before you can transfer legacy data, which includes data from previous systems or periods.
  
  Solution:
  To resolve this error, you need to close the fiscal year in question. Here are the steps to do that:
  
  
  Close the Fiscal Year:
  
  Navigate to the transaction code AJAB (for Asset Accounting Year-End Closing).
  Follow the prompts to close the fiscal year. Ensure that all necessary postings and adjustments have been made before closing.
  Make sure that all relevant documents are posted and that there are no pending transactions for the fiscal year.
  
  
  
  Check for Open Items:
  
  Use transaction code FBL3N or FBL1N to check for any open items that might prevent the closing of the fiscal year.
  Resolve any discrepancies or open items that may exist.
  
  
  
  Re-attempt Legacy Data Transfer:
  
  Once the fiscal year is closed, you can proceed with the legacy data transfer process again.
  
  
  
  Related Information:
  
  Fiscal Year Closing: It is important to understand the fiscal year closing process in SAP, which involves ensuring that all financial transactions are complete and that the financial statements are accurate.
  Transaction Codes:
  
  AJAB: Year-End Closing for Asset Accounting.
  FBL3N: Display G/L Account Line Items.
  FBL1N: Display Vendor Line Items.
  
  
  Documentation: Refer to SAP Help documentation for detailed steps on closing the fiscal year and performing legacy data transfers.
  
  Best Practices:
  
  Always back up your data before performing year-end closing.
  Ensure that all users are informed about the closing process to avoid any interruptions.
  Conduct a thorough review of all asset transactions before closing the fiscal year to ensure accuracy.
  
  By following these steps, you should be able to resolve the FAA_POST052 error and successfully complete your legacy data transfer.