How To Fix FARR_MSG_CUSTOM017 - FI posting period &2 for company code &1 is closed

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_MSG_CUSTOM - Customizable Messages for Revenue Accounting

• Message number: 017

• Message text: FI posting period &2 for company code &1 is closed

Self-Explanatory Message

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• What is the cause and solution for SAP error message FARR_MSG_CUSTOM017 - FI posting period &2 for company code &1 is closed ?

  The SAP error message FARR_MSG_CUSTOM017 indicates that you are trying to post a financial transaction in a closed posting period for a specific company code. This is a common issue in SAP when the financial period has been closed for posting, which is a standard practice to ensure the integrity of financial data.
  Cause:
  
  Closed Posting Period: The posting period for the specified company code has been closed, meaning that no further transactions can be posted for that period.
  Configuration Settings: The settings in the financial accounting module may restrict postings to certain periods based on the fiscal year variant and the closing procedures.
  Incorrect Date: The transaction date may be set to a date that falls within a closed period.
  
  Solution:
  
  
  Check Posting Period Status:
  
  Go to the transaction code OB52 (Change View "Posting Periods": Overview).
  Check the status of the posting periods for the relevant company code and fiscal year. If the period is closed, you will need to open it for posting.
  
  
  
  Open the Posting Period:
  
  If you have the necessary authorization, you can open the posting period for the specific company code and fiscal year. This is typically done by adjusting the settings in OB52.
  Be cautious when opening periods, as it can affect financial reporting and integrity.
  
  
  
  Adjust Transaction Date:
  
  If the transaction date is incorrect, adjust it to a date that falls within an open posting period.
  
  
  
  Consult with Finance Team:
  
  If you do not have the necessary permissions to change the posting periods, consult with your finance or accounting team to determine the appropriate action.
  
  
  
  Review Configuration:
  
  Ensure that the configuration settings for the fiscal year variant and posting periods are correctly set up to avoid similar issues in the future.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB52: To manage posting periods.
  FBL1N/FBL3N/FBL5N: To review vendor, customer, or general ledger account balances.
  
  
  
  Documentation: Refer to SAP Help documentation for detailed information on managing posting periods and fiscal year settings.
  
  
  User Roles: Ensure that users have the appropriate roles and authorizations to perform financial postings and manage posting periods.
  
  
  By following these steps, you should be able to resolve the error and proceed with your financial postings in SAP.