How To Fix FARR_RAI778 - Comp.code &1/acct.pr. &2: Period not closed in source acct.pr.

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_RAI - Revenue Accounting Item

• Message number: 778

• Message text: Comp.code &1/acct.pr. &2: Period not closed in source acct.pr.

What causes this issue?

Company code &v1&/accounting principle &v2&: The last period up to the
specified transfer date must be closed in the defined source accounting
principle.

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?

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 FARR_RAI778 - Comp.code &1/acct.pr. &2: Period not closed in source acct.pr. ?

  The SAP error message FARR_RAI778 indicates that there is an issue with the accounting period not being closed for a specific company code and account period. This error typically arises in the context of Asset Accounting (FI-AA) when trying to post transactions that require the accounting period to be closed.
  Cause:
  The error occurs when:
  
  You are trying to post a transaction (like an asset acquisition, transfer, or retirement) in a period that has not been closed.
  The system checks the status of the accounting period for the specified company code and finds that it is still open, which prevents the posting of certain transactions.
  
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check the Period Status:
  
  Go to the transaction code OB52 (Change View "Open and Close Posting Periods") to check the status of the posting periods for the relevant company code and account type.
  Ensure that the period you are trying to post to is indeed closed.
  
  
  
  Close the Period:
  
  If the period is still open and you want to close it, you can do so in the same transaction (OB52). Make sure to set the appropriate closing date for the relevant company code and account type.
  
  
  
  Post in a Different Period:
  
  If you cannot close the period (for example, if it is a prior period that should remain open for adjustments), consider posting your transaction in a different, open period.
  
  
  
  Consult with Your Finance Team:
  
  If you are unsure about closing periods or the implications of doing so, consult with your finance or accounting team to ensure compliance with your organization's policies.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB52: To manage open and closed posting periods.
  F-90: For asset acquisition.
  F-92: For asset retirement.
  
  
  
  Documentation: Refer to SAP Help documentation for Asset Accounting for more details on managing posting periods and transactions.
  
  
  User Roles: Ensure that you have the necessary authorizations to change posting periods or perform asset transactions.
  
  
  By following these steps, you should be able to resolve the error and proceed with your transactions in SAP.