How To Fix FR505 - Specify valid company code and fiscal year

SAP Error Message - Details

• Message type: E = Error

• Message class: FR - Messages for FI Reporting

• Message number: 505

• Message text: Specify valid company code and fiscal year

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FR505 - Specify valid company code and fiscal year ?

  The SAP error message FR505 ("Specify valid company code and fiscal year") typically occurs when a user attempts to execute a financial transaction or report that requires a valid company code and fiscal year, but either of these parameters is missing, incorrect, or not recognized by the system.
  Causes:
  
  Invalid Company Code: The company code entered does not exist in the system or is not properly configured.
  Invalid Fiscal Year: The fiscal year specified is not valid or does not correspond to the company code.
  Missing Parameters: The user may have forgotten to enter the company code or fiscal year in the transaction screen.
  Authorization Issues: The user may not have the necessary authorizations to access the specified company code or fiscal year.
  Configuration Issues: The company code or fiscal year may not be properly set up in the system configuration.
  
  Solutions:
  
  
  Check Company Code:
  
  Verify that the company code you are entering is correct and exists in the system. You can check this in the SAP transaction code OBY6 (for company code settings).
  
  
  
  Check Fiscal Year:
  
  Ensure that the fiscal year you are trying to use is valid for the specified company code. You can check the fiscal year settings in the transaction code OB29 (for fiscal year variant).
  
  
  
  Enter Missing Parameters:
  
  If you have not entered the company code or fiscal year, make sure to fill in these fields before executing the transaction.
  
  
  
  Review Authorizations:
  
  Check if you have the necessary authorizations to access the specified company code and fiscal year. You may need to contact your SAP security administrator.
  
  
  
  Consult Configuration:
  
  If you suspect a configuration issue, consult with your SAP FI (Financial Accounting) consultant to ensure that the company code and fiscal year are correctly set up.
  
  
  
  Use Correct Transaction:
  
  Ensure that you are using the correct transaction code that corresponds to the company code and fiscal year you are trying to access.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OBY6: Company Code Configuration
  OB29: Fiscal Year Variant Configuration
  FS00: G/L Account Master Data
  FBL1N: Vendor Line Item Display
  FBL3N: G/L Account Line Item Display
  FBL5N: Customer Line Item Display
  
  
  
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  
  
  Documentation: Refer to SAP Help documentation for detailed information on financial transactions and configuration.
  
  
  If the issue persists after checking the above points, it may be beneficial to consult with your SAP support team or a technical consultant for further assistance.