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

SAP Error Message - Details

• 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 completed before closing it.
  
  
  
  Review Open Transactions:
  
  Check for any open transactions or postings in the prior period that may need to be cleared or posted.
  Use transaction codes like FB03 (Display Document) or FBL1N (Vendor Line Item Display) to review any outstanding items.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about closing the period or if there are legitimate reasons for keeping it open, consult with your finance or accounting team to ensure compliance with financial policies.
  
  
  
  Configuration Settings:
  
  Review the configuration settings for the fiscal year and periods in the Financial Accounting (FI) module to ensure they are set up correctly.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB52: Change View "Periods" Overview
  FB03: Display Document
  FBL1N: Vendor Line Item Display
  FBL3N: G/L Account Line Item Display
  FBL5N: Customer Line Item Display
  
  
  
  SAP Notes:
  
  Check SAP Notes for any specific patches or updates related to this error message. You can search for relevant notes in the SAP Support Portal.
  
  
  
  Documentation:
  
  Review SAP documentation related to financial period closing and fiscal year settings for more detailed guidance.
  
  
  
  By following these steps, you should be able to resolve the FM_FAGL_REORG007 error and proceed with your financial operations in SAP.