How To Fix FM_FAGL_REORG007 - Prior period of company code &1 is still open

FM_FAGL_REORG007 - Overview

• Message type: E = Error

• Message class: FM_FAGL_REORG - Reorganization: Funds Management

• Message number: 007

• Message text: Prior period of company code &1 is still open

What causes this issue?

Period &V3& in fiscal year &V2& is still open for company code &V1&.
However, the reorganization is scheduled to occur in the following
period.
The reassignment cannot be made until the prior period has been closed.
This is intended to prevent postings with changed account assignments
being made in prior periods. The new account assignments are meant to
apply from the reorganization date.
<ZH>Note</>
In the case of a posting period that should always be open, a minimum
entry (account type +) must be made in Customizing in the Financial
Accounting Global Settings (New) under <DS:SIMG.SIMG_CFMENUORFBOB52>Open
and Close Posting Periods</>. This entry was found for company code &V1&
in period &V3&/&V2&.

System Response

Only perform the reassignment once the prior period has been closed.

How to fix this error?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Procedure for System Administrators

In Customizing under <DS:SIMG.SIMG_CFMENUORK1OBA5>Change Message Control
</>, you can adjust how the system issues this system message.
You obtain the application area and the message number from the
technical details for this message.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FM_FAGL_REORG007 - Prior period of company code &1 is still open ?

  The SAP error message FM_FAGL_REORG007 indicates that the prior period for a specific company code is still open, which prevents certain financial operations, such as closing the current period or performing certain reorganization tasks.
  
  Cause:
  This error typically occurs when:
  
  The financial period for the specified company code has not been closed in the system.
  There are open postings or transactions in the prior period that need to be addressed.
  The configuration settings for the fiscal year or periods are not set correctly.
  
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Open Periods:
  
  Go to the transaction code OB52 (Change View "Periods" Overview).
  Verify the status of the periods for the relevant company code. Ensure that the prior period is closed.
  
  
  
  Close the Prior Period:
  
  If the prior period is still open, you may need to close it. This can be done by adjusting the period settings in OB52.
  Ensure that all necessary postings for the prior period have been