How To Fix FIQAPS_LOC058 - Fiscal year variant not maintained for the specified company code

SAP Error Message - Details

• Message type: E = Error

• Message class: FIQAPS_LOC - FI Localization for Qatar Public Sector

• Message number: 058

• Message text: Fiscal year variant not maintained for the specified company code

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FIQAPS_LOC058 - Fiscal year variant not maintained for the specified company code ?

  The SAP error message FIQAPS_LOC058 indicates that the fiscal year variant has not been maintained for the specified company code. This error typically arises when you attempt to perform financial transactions or reporting for a company code that does not have a defined fiscal year variant.
  Cause:
  
  Missing Fiscal Year Variant: The company code you are working with does not have a fiscal year variant assigned to it.
  Incorrect Configuration: The fiscal year variant may not have been set up correctly in the system.
  Data Entry Error: The company code entered may be incorrect or not properly configured in the system.
  
  Solution:
  To resolve this error, you need to ensure that a fiscal year variant is assigned to the company code. Here are the steps to do this:
  
  
  Access the Configuration:
  
  Go to the SAP Easy Access screen.
  Navigate to SPRO (SAP Project Reference Object) > IMG (Implementation Guide) > Financial Accounting > Financial Accounting Global Settings > Fiscal Year > Define Fiscal Year Variants.
  
  
  
  Define a Fiscal Year Variant:
  
  If a fiscal year variant does not exist, you can create one by clicking on "New Entries" and defining the fiscal year variant according to your organization's requirements.
  
  
  
  Assign the Fiscal Year Variant to the Company Code:
  
  After defining the fiscal year variant, navigate to Financial Accounting > Financial Accounting Global Settings > Company Code > Edit, Copy, Delete, Check Company Code.
  Select the company code in question and ensure that the fiscal year variant is assigned to it.
  
  
  
  Check for Errors:
  
  After making the changes, check for any errors in the configuration. You can do this by running a test transaction or using transaction codes like OB52 to check the fiscal year settings.
  
  
  
  Save Changes: 
  
  Make sure to save any changes you have made in the configuration.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OB37: To assign fiscal year variants to company codes.
  OB52: To manage the open and closed periods for the fiscal year.
  
  
  Documentation: Refer to SAP Help documentation for detailed information on fiscal year variants and their configuration.
  User Roles: Ensure that you have the necessary authorizations to make changes in the configuration settings.
  
  By following these steps, you should be able to resolve the FIQAPS_LOC058 error and ensure that your company code is properly configured for financial transactions.