How To Fix FI074 - The fiscal year specified is ignored and transferred from the work list

SAP Error Message - Details

• Message type: E = Error

• Message class: FI - TR-FM Funds Management

• Message number: 074

• Message text: The fiscal year specified is ignored and transferred from the work list

What causes this issue?

You can set in Customizing whether this functionality is to be
dependent on fiscal year or not.
If it is dependent on fiscal year, the fiscal year is linked to the
allocation of the CO account assignment to the FM account assignment,
is specified when you enter this allocation, and is transferred during
document selection.
If it is not dependent on fiscal year, you can restrict the documents
to be reassigned to a start fiscal year. Beginning with this fiscal
year, all documents from this fiscal year and all subsequent fiscal
years are reassigned. If this restriction is missing, all documents
with a suitable CO account assignment are reassigned.

System Response

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FI074 - The fiscal year specified is ignored and transferred from the work list ?

  The SAP error message FI074 ("The fiscal year specified is ignored and transferred from the work list") typically occurs in the context of financial transactions, particularly when dealing with document postings or processing in the Financial Accounting (FI) module. This message indicates that the fiscal year you specified in your transaction is not valid for the operation you are trying to perform, and as a result, the system is ignoring it and transferring the data from the work list.
  Causes:
  
  Invalid Fiscal Year: The fiscal year you are trying to use may not be open for posting. This can happen if the fiscal year has been closed or if the period you are trying to post to is not open.
  Configuration Issues: The fiscal year variant may not be correctly configured in the system, leading to discrepancies in the expected fiscal year.
  Document Type Restrictions: Certain document types may have restrictions on the fiscal years they can be posted to.
  Posting Periods: The posting period for the specified fiscal year may be closed, preventing any transactions from being recorded in that period.
  
  Solutions:
  
  Check Fiscal Year Status: Verify if the fiscal year you are trying to use is open for posting. You can do this by checking the configuration in the Financial Accounting module (Transaction Code: OB52).
  Open Posting Periods: Ensure that the posting periods for the fiscal year are open. You can adjust the posting periods using Transaction Code: OB52.
  Review Document Type Settings: Check the settings for the document type you are using to ensure it allows postings to the specified fiscal year.
  Adjust Configuration: If there are configuration issues, you may need to adjust the fiscal year variant settings in the system (Transaction Code: OB29).
  Consult with Finance Team: If you are unsure about the fiscal year settings or the implications of changing them, consult with your finance team or SAP administrator.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB52 (Manage Posting Periods), OB29 (Define Fiscal Year Variant), and FB50 (General Ledger Account Document Entry).
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  Documentation: Review SAP documentation for guidelines on fiscal year management and posting periods.
  
  By following these steps, you should be able to identify the cause of the FI074 error and implement the necessary solutions to resolve it.