How To Fix FV062 - Closing balance does not correspond to next opening balance &

SAP Error Message - Details

• Message type: E = Error

• Message class: FV - Electronic Banking Messages

• Message number: 062

• Message text: Closing balance does not correspond to next opening balance &

What causes this issue?

The closing balance of the account statement &V2& does not match the
opening balance &V1& of the 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 FV062 - Closing balance does not correspond to next opening balance & ?

  The SAP error message FV062, which states "Closing balance does not correspond to next opening balance," typically occurs in the context of financial accounting when there is a discrepancy between the closing balance of a previous period and the opening balance of the current period. This can happen for various reasons, including data entry errors, incorrect postings, or issues with the configuration of the financial system.
  Causes:
  
  Data Entry Errors: Incorrect postings or manual entries that do not align with the expected balances.
  Incorrect Period Closing: If the previous period was not closed properly, it can lead to discrepancies in balances.
  Missing Transactions: Transactions that should have been posted in the previous period may have been omitted.
  Configuration Issues: Incorrect settings in the financial module or account settings can lead to balance discrepancies.
  Currency Conversion Issues: If there are currency conversions involved, discrepancies can arise from incorrect exchange rates or conversion methods.
  
  Solutions:
  
  Review Previous Period Balances: Check the closing balance of the previous period and ensure it matches the opening balance of the current period.
  Reconcile Accounts: Perform a reconciliation of the accounts involved to identify any discrepancies or missing transactions.
  Check for Missing Postings: Ensure that all necessary transactions for the previous period have been posted correctly.
  Review Configuration Settings: Verify that the financial configuration settings are correct and align with the business processes.
  Use Transaction Codes: Utilize transaction codes like FBL3N (Display G/L Account Line Items) or FAGLB03 (Display G/L Account) to analyze the account balances and identify discrepancies.
  Consult with Finance Team: Collaborate with the finance team to understand any manual adjustments or entries that may have been made.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes for financial reporting and analysis, such as FBL3N, FAGLB03, and others.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  Documentation: Review SAP documentation for guidelines on closing periods and managing balances.
  Training: Consider training sessions for users involved in financial postings to minimize errors in data entry.
  
  If the issue persists after following these steps, it may be necessary to engage SAP support or a consultant with expertise in financial accounting within SAP to conduct a deeper analysis.