How To Fix FV058 - Beginning balance does not match prior ending balance $

FV058 - Overview

• Message type: E = Error

• Message class: FV - Electronic Banking Messages

• Message number: 058

• Message text: Beginning balance does not match prior ending balance $

What causes this issue?

The beginning balance from bank statement &V2& does not match the
ending balance &V1& from statement &V3& &V4&.

System Response

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

How to fix this error?

Check your entry.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FV058 - Beginning balance does not match prior ending balance $ ?

  The SAP error message FV058 ("Beginning balance does not match prior ending balance") typically occurs in the context of financial accounting, particularly when dealing with the posting of documents in the General Ledger (G/L) or when performing year-end closing activities. This error indicates a discrepancy between the beginning balance of a financial period and the ending balance from the previous period.
  Causes:
  
  Incorrect Posting: There may have been incorrect postings made in the previous period that did not properly reflect the ending balance.
  Missing Transactions: Some transactions that should have been posted in the previous period may have been omitted.
  Manual Adjustments: Manual adjustments or corrections made to the balances may not have been properly recorded.
  Data Migration Issues: If data was migrated from another system, there may have been errors in the data transfer that affected the balances.
  
  Configuration Issues: Incorrect configuration settings in the financial module can lead to discrepancies in balances.
  
  Solutions:
  
  Review Previous Period