How To Fix FCOM_PLANNING_CORE034 - Cost center &1 does not exist in fiscal year &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FCOM_PLANNING_CORE - Messages for Package FCOM_PLANNING_CORE

• Message number: 034

• Message text: Cost center &1 does not exist in fiscal year &2

What causes this issue?

Cost center &V1& is not valid in any period of fiscal year &V2&.

System Response

You have entered invalid master data or referenced invalid master data
that the system cannot process. Depending on where this occurred, the
system prevents you from entering the data, prevents you from navigating
further, or prevents further processing.

How to fix this error?

You have the following options:
If the cost center does not exist, you can create it.
If cost center only exists in an inactive version, activate the master
data.
Correct your entries.

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 FCOM_PLANNING_CORE034 - Cost center &1 does not exist in fiscal year &2 ?

  The SAP error message FCOM_PLANNING_CORE034 indicates that a cost center specified in a financial transaction or planning activity does not exist for the specified fiscal year. This error typically arises in the context of financial planning, budgeting, or cost center accounting.
  Cause:
  
  Cost Center Not Created: The cost center may not have been created for the specified fiscal year.
  Cost Center Deactivation: The cost center might have been deactivated or marked for deletion in the specified fiscal year.
  Incorrect Fiscal Year: The fiscal year specified in the transaction may not match the fiscal year in which the cost center is valid.
  Data Entry Error: There may be a typographical error in the cost center code or fiscal year entered in the transaction.
  
  Solution:
  
  
  Verify Cost Center Existence:
  
  Check if the cost center exists in the system for the specified fiscal year. You can do this by navigating to the cost center master data in SAP (Transaction Code: KS03).
  Ensure that the cost center is active and not marked for deletion.
  
  
  
  Create or Activate Cost Center:
  
  If the cost center does not exist for the fiscal year, you may need to create it (Transaction Code: KS01).
  If it exists but is inactive, you may need to reactivate it.
  
  
  
  Check Fiscal Year Settings:
  
  Ensure that the fiscal year you are using in your transaction is correct. You can check the fiscal year settings in the configuration (Transaction Code: OB29).
  
  
  
  Correct Data Entry:
  
  Double-check the cost center code and fiscal year entered in the transaction for any typographical errors.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about the status of the cost center or fiscal year, consult with your finance or controlling team for clarification.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  KS01: Create Cost Center
  KS02: Change Cost Center
  KS03: Display Cost Center
  OB29: Define Fiscal Year Variant
  
  
  
  Documentation: Refer to SAP Help documentation for detailed information on cost center accounting and fiscal year settings.
  
  
  User Roles: Ensure that you have the necessary authorizations to view or modify cost center data.
  
  
  By following these steps, you should be able to resolve the error message FCOM_PLANNING_CORE034 and proceed with your financial planning activities.