How To Fix FAGL_SWITCH_LEAD_LDG116 - Date &1 is not start of fiscal year in company code &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FAGL_SWITCH_LEAD_LDG - Technical Changeover of Leading View in General Ledger (New)

• Message number: 116

• Message text: Date &1 is not start of fiscal year in company code &2

What causes this issue?

The switch date must be the start date of a fiscal year. However, in
company code &V2&, the date &V1& is not the start of a fiscal year.

System Response

The switch project cannot be activated or continued with the parameters
specified.

How to fix this error?

Select a date that is the first posting date of a fiscal year in all
company codes in the system. To do this, introduce shortened fiscal
years if necessary. For more information, see SAP Library under <LS>
General Ledger Accounting (FI-GL) </>-> <LS>Configuring General Ledger
Accounting </>-> <LS>Parallel Accounting </>-> <LS>Portrayal Using
Parallel Ledgers </>-> <LS>Change in Leading Valuation </>-> <LS>
Preparation Phase </>-> <LS>Check Prerequisites for Project Start</>.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FAGL_SWITCH_LEAD_LDG116 - Date &1 is not start of fiscal year in company code &2 ?

  The SAP error message FAGL_SWITCH_LEAD_LDG116 indicates that the date you are trying to use is not the start of the fiscal year for the specified company code. This error typically occurs when you are attempting to perform a financial operation that requires the date to be the first day of the fiscal year, but the date provided does not meet this requirement.
  Cause:
  
  Incorrect Date: The date you are using in your transaction is not the first day of the fiscal year for the specified company code.
  Fiscal Year Settings: The fiscal year settings for the company code may not align with the date you are trying to use.
  Period Locking: The fiscal year may be locked for posting, preventing any transactions from being processed for that period.
  
  Solution:
  
  
  Check the Date: Ensure that the date you are using is indeed the first day of the fiscal year for the company code in question. For example, if the fiscal year starts on January 1, then the date should be January 1 of that year.
  
  
  Review Fiscal Year Settings: Go to the configuration settings for the company code and verify the fiscal year variant. You can check this in the following path:
  
  SPRO ? Financial Accounting (New) ? Financial Accounting Global Settings (New) ? Fiscal Year ? Maintain Fiscal Year Variant.
  
  
  
  Adjust Posting Periods: If the fiscal year is locked, you may need to unlock it or adjust the posting periods to allow transactions for the specified date. This can be done in:
  
  SPRO ? Financial Accounting (New) ? Financial Accounting Global Settings (New) ? Periods ? Open and Close Posting Periods.
  
  
  
  Use Correct Transaction: If you are trying to perform a specific transaction, ensure that you are using the correct transaction code and that it is appropriate for the date you are working with.
  
  
  Consult Documentation: If you are unsure about the fiscal year settings or how to adjust them, refer to SAP documentation or consult with your SAP administrator.
  
  
  Related Information:
  
  Fiscal Year Variants: Understand how fiscal year variants work in SAP and how they affect posting periods.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB29 (to maintain fiscal year variants) and OB52 (to open/close posting periods).
  SAP Notes: Check for any SAP Notes related to this error message for additional guidance or patches that may address specific issues.
  
  By following these steps, you should be able to resolve the FAGL_SWITCH_LEAD_LDG116 error and proceed with your financial transactions in SAP.