How To Fix FINS_FI_SIF026 - Period &1/&2 is already closed for company code &3

SAP Error Message - Details

• Message type: E = Error

• Message class: FINS_FI_SIF - SAP S/4HANA Finance: Subsequent Implementation of Functions

• Message number: 026

• Message text: Period &1/&2 is already closed for company code &3

What causes this issue?

Period &V1&/&V2& is already closed for company code &V3&. Postings are
not possible in this period.
Prior to data transfer, all periods of the current fiscal year must be
open for all company codes that are assigned to the project.

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?

Check and set the period status for company code &V3& accordingly using
transaction
<DS:TRAN.OB52>Open and Close Posting Periods</>.
For testing purposes, you can also modify the message type of this
message using transaction
<DS:TRAN.OBA5>Message Control by User.</>
The application area of this message is 'FINS_FI_SIF'.
If the message type is 'I' (Info), 'W' (Warning) or 'S' (Success), you
will be able to set the project status to <LS>Preparations Completed</>.
It is not recommended to change the message type in productive systems.

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 FINS_FI_SIF026 - Period &1/&2 is already closed for company code &3 ?

  The SAP error message FINS_FI_SIF026 indicates that a specific period (month/year) is already closed for a particular company code. This means that no further postings can be made for that period, as it has been finalized in the financial accounting system.
  Cause:
  
  Period Closing: The financial period (month/year) has been closed in the system, which prevents any further transactions from being posted to that period.
  Configuration Settings: The closing settings in the financial accounting module may have been configured to restrict postings after a certain date.
  User Error: A user may have attempted to post a transaction to a closed period without realizing it.
  
  Solution:
  
  Check Period Status: Verify the status of the financial period in the system. You can do this by navigating to the transaction code OB52 (Change View "Open and Close Posting Periods") to see if the period is indeed closed.
  Open the Period: If it is necessary to post to that period, you can temporarily open the period using transaction code OB52. However, this should be done with caution and typically requires appropriate authorization.
  Post to the Next Period: If the period is closed and cannot be reopened, consider posting the transaction to the next open period.
  Consult with Finance Team: If you are unsure about the implications of reopening a closed period, consult with your finance team or SAP administrator to ensure compliance with accounting policies.
  
  Related Information:
  
  
  Transaction Codes:
  
  OB52: To manage open and closed posting periods.
  FB50: To post general ledger entries.
  FBL1N: To view vendor line items, which may help in understanding the context of the posting.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may provide additional guidance or updates related to this error message.
  
  
  Documentation: Review SAP documentation or user manuals related to financial closing processes for best practices and procedures.
  
  
  User Authorization: Ensure that the user attempting to post has the necessary authorizations to open periods or make changes to financial postings.
  
  
  By following these steps, you should be able to address the error message and understand the implications of posting in closed periods within SAP.