How To Fix FAA_POST124 - Balance carryforward is required for CoCode &1 and ledger &2 in year &3

FAA_POST124 - Overview

• Message type: E = Error

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

• Message number: 124

• Message text: Balance carryforward is required for CoCode &1 and ledger &2 in year &3

What causes this issue?

You are making a posting on a fixed asset.
The system ascertains that a balance carryforward has not taken place to
the current fiscal year.

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?

You must perform a balance carryforward.
<ZH>Example</>
You have an initial company code for which you want to execute a legacy
data transfer at the end of the year. The fiscal year corresponds to the
calendar year. The system should be used productively from 1.1. of the
current fiscal year. You perform the legacy data transfer on 12.31. of
the previous year.
You have made the following settings for your company code: The current
fiscal year (YYYY) is opened, the previous year (fiscal year YYYY-1) is
closed. You have defined the transfer date as 12.31.YYYY-1 for the
legacy data transfer.
The balance carryforward is necessary to carryforward values of the
legacy data transfer from the year YYYY-1 to the current fiscal year
(YYYY).

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

FAA_POST124 - Details

• The SAP error message FAA_POST124 indicates that a balance carryforward is required for a specific company code (CoCode), ledger, and fiscal year. This error typically occurs in the context of Asset Accounting (FI-AA) when trying to post transactions that require prior year balances to be carried forward.
  
  Cause:
  
  Missing Balance Carryforward: The most common cause of this error is that the balance carryforward process has not been executed for the specified company code and ledger for the given fiscal year. This process is essential to ensure that the balances from the previous year are correctly transferred to the new fiscal year.
  Incorrect Configuration: There may be configuration issues in the Asset Accounting settings that prevent the carryforward from being executed properly.
  Posting Period Issues: The posting period may not be open for the specified fiscal year, which can also lead to this error.
  
  
  Solution:
  
  
  Execute Balance Carryforward:
  
  Go to the transaction code AJAB (Balance Carryforward for Asset