How To Fix FGV608 - Specify number of periods for shortened financial year

SAP Error Message - Details

• Message type: E = Error

• Message class: FGV - Fiscal year variants

• Message number: 608

• Message text: Specify number of periods for shortened financial year

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FGV608 - Specify number of periods for shortened financial year ?

  The SAP error message FGV608, which states "Specify number of periods for shortened financial year," typically occurs when you are trying to perform a financial transaction or posting in a shortened financial year without having defined the number of periods for that year in the system.
  Cause:
  This error arises when:
  
  The fiscal year variant is set up for a shortened financial year, but the number of periods (months) for that year has not been specified.
  The system requires this information to correctly process financial transactions, as it needs to know how many periods to consider for reporting and posting.
  
  Solution:
  To resolve this error, you need to specify the number of periods for the shortened financial year in the SAP configuration. Here are the steps to do this:
  
  
  Access the Customizing Menu:
  
  Go to transaction code SPRO.
  Navigate to SAP Reference IMG.
  
  
  
  Define Fiscal Year Variant:
  
  Follow the path: Financial Accounting (New) > Financial Accounting Global Settings (New) > Fiscal Year Change > Define Fiscal Year Variant.
  Select the fiscal year variant that you are using.
  
  
  
  Edit the Fiscal Year Variant:
  
  In the fiscal year variant settings, you will see options to define the number of periods.
  Ensure that you specify the number of periods for the shortened financial year. This typically involves defining how many months are included in the shortened year.
  
  
  
  Save Changes:
  
  After making the necessary changes, save your configuration.
  
  
  
  Test the Transaction:
  
  Go back to the transaction that was causing the error and try to execute it again to see if the issue is resolved.
  
  
  
  Related Information:
  
  Fiscal Year Variant: This is a configuration in SAP that defines how the fiscal year is structured, including the number of periods (months) and any special considerations for shortened years.
  Shortened Financial Year: This is often used in scenarios such as mergers, acquisitions, or when a company changes its fiscal year-end.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB29 (to define fiscal year variants) and OB37 (to assign fiscal year variants to company codes).
  
  If the issue persists after following these steps, it may be necessary to check for additional configuration settings or consult with your SAP support team for further assistance.