How To Fix FR557 - Incorrect fiscal year variant in company code &

SAP Error Message - Details

• Message type: E = Error

• Message class: FR - Messages for FI Reporting

• Message number: 557

• Message text: Incorrect fiscal year variant in company code &

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FR557 - Incorrect fiscal year variant in company code & ?

  The SAP error message FR557 indicates that there is an issue with the fiscal year variant assigned to a company code. This error typically arises when the fiscal year variant configured for the company code does not match the fiscal year variant expected by the system for the transaction being processed.
  Cause:
  
  Mismatch in Fiscal Year Variant: The fiscal year variant assigned to the company code does not correspond to the fiscal year variant defined in the financial document or transaction.
  Incorrect Configuration: The fiscal year variant may not be properly configured in the system, or the company code may not be assigned to the correct fiscal year variant.
  Transaction Type: The transaction being processed may require a different fiscal year variant than what is currently assigned to the company code.
  
  Solution:
  
  
  Check Company Code Configuration:
  
  Go to the transaction code OBY6 (or navigate through the menu: SPRO > Financial Accounting > Financial Accounting Global Settings > Company Code > Define Fiscal Year Variant).
  Verify that the correct fiscal year variant is assigned to the company code in question.
  
  
  
  Review Fiscal Year Variant Settings:
  
  Ensure that the fiscal year variant is correctly defined and that the periods are set up properly.
  Check if the fiscal year variant is compatible with the transactions being processed.
  
  
  
  Adjust Transaction Settings:
  
  If the transaction requires a specific fiscal year variant, ensure that the transaction is being processed under the correct settings.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for specific guidelines related to fiscal year variants and company codes.
  
  
  
  Testing:
  
  After making changes, perform a test transaction to ensure that the error is resolved.
  
  
  
  Related Information:
  
  Fiscal Year Variant: This defines how the fiscal year is structured, including the number of periods and special periods.
  Company Code: This is the smallest organizational unit in financial accounting for which a complete self-contained set of accounts can be drawn up.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OBY6, OB52, and OB29 for fiscal year variant settings and adjustments.
  
  If the issue persists after checking the above points, it may be necessary to involve your SAP Basis or functional consultant for further investigation.