How To Fix FI116 - Fiscal year variant not maintained in FM area &

SAP Error Message - Details

• Message type: E = Error

• Message class: FI - TR-FM Funds Management

• Message number: 116

• Message text: Fiscal year variant not maintained in FM area &

What causes this issue?

No fiscal year variant has been maintained for Cash Budget Management
in FM area &V1&.

System Response

Function not executed.

How to fix this error?

Go to the Cash Budget Management implementation guide, define a fiscal
year variant and assign it to this FM area.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FI116 - Fiscal year variant not maintained in FM area & ?

  The SAP error message FI116, which states "Fiscal year variant not maintained in FM area," typically occurs in the context of Funds Management (FM) in SAP. This error indicates that the fiscal year variant has not been defined for the specified Funds Management area, which is necessary for processing financial transactions.
  Cause:
  
  Missing Fiscal Year Variant: The fiscal year variant has not been assigned to the Funds Management area in the configuration settings.
  Incorrect Configuration: The configuration for the fiscal year variant may be incomplete or incorrect.
  FM Area Not Defined: The FM area itself may not be properly defined or may not have the necessary settings.
  
  Solution:
  To resolve the FI116 error, follow these steps:
  
  
  Check FM Area Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to SPRO (Customizing) > Public Sector Management > Funds Management > Master Data > Define Fiscal Year Variant.
  Ensure that the fiscal year variant is defined for the relevant FM area.
  
  
  
  Assign Fiscal Year Variant:
  
  In the same configuration path, check if the fiscal year variant is assigned to the FM area.
  If it is not assigned, you will need to assign the appropriate fiscal year variant to the FM area.
  
  
  
  Verify Fiscal Year Variant Settings:
  
  Ensure that the fiscal year variant settings are correct and align with your organization's financial calendar.
  Check for any discrepancies in the fiscal year variant settings that might affect the FM area.
  
  
  
  Test the Configuration:
  
  After making the necessary changes, test the configuration by attempting to execute the transaction that previously resulted in the error.
  
  
  
  Consult Documentation:
  
  If you are unsure about the fiscal year variant settings, refer to SAP documentation or consult with your SAP functional consultant for guidance.
  
  
  
  Related Information:
  
  Fiscal Year Variant: This defines how the fiscal year is structured, including the number of periods and special periods.
  Funds Management (FM): This module in SAP is used for budget control and monitoring of funds within an organization.
  Transaction Codes: You may use transaction codes like OB29 (to define fiscal year variants) and FMX1 (to create FM areas) for configuration.
  
  If the issue persists after following these steps, it may be beneficial to check for any additional error messages or logs that could provide more context on the problem. Additionally, consulting with your SAP support team or a technical consultant may be necessary for more complex issues.