How To Fix FARR_ACCR_UI024 - Posting period &1 for company code &2 is in the future

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_ACCR_UI - Revenue Accounting - Accrual Management

• Message number: 024

• Message text: Posting period &1 for company code &2 is in the future

What causes this issue?

The posting period that you have specified is in the future.

System Response

You can run testing with a future posting period selected. However, you
cannot actually post to a future posting period.

How to fix this error?

You can do either of the following:
Make actual postings to a posting period that is already open.
Run testing using a future posting period to have a preview of accrual
postings that may occur in the future.

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 FARR_ACCR_UI024 - Posting period &1 for company code &2 is in the future ?

  The SAP error message FARR_ACCR_UI024 indicates that you are trying to post an accrual or a related financial transaction in a future posting period for a specific company code. This is a common issue in financial accounting when the system is configured to restrict postings to only the current or past periods.
  Cause:
  
  Future Posting Period: The posting period you are trying to use is set in the future, meaning it has not yet been opened for posting in the system.
  Configuration Settings: The configuration settings in the financial accounting module may restrict postings to only the current or past periods.
  Period Locking: The posting period may be locked for the company code, preventing any transactions from being posted in that period.
  
  Solution:
  
  
  Check Posting Period: Verify the posting period you are trying to use. Ensure that it is not a future period. You can do this by checking the period settings in the transaction code OB52 (Maintain Posting Periods).
  
  
  Open the Future Period: If you need to post in a future period, you can open that period in the configuration settings. This can be done by:
  
  Navigating to OB52.
  Selecting the appropriate company code and adjusting the date range to include the future period you want to post to.
  
  
  
  Adjust Configuration: If your business process requires posting to future periods, consider adjusting the configuration settings to allow this. However, be cautious with this approach as it may have implications for financial reporting and compliance.
  
  
  Consult with Finance Team: If you are unsure about changing the posting periods or if it is against company policy, consult with your finance or accounting team for guidance.
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB52: To maintain posting periods.
  FBL1N: To check vendor line items if applicable.
  FBL3N: To check G/L account line items if applicable.
  
  
  
  Documentation: Refer to SAP Help documentation for more details on posting periods and financial transactions.
  
  
  User Roles: Ensure that you have the necessary authorizations to change posting periods or perform financial transactions.
  
  
  By following these steps, you should be able to resolve the error message and successfully post your transaction.