How To Fix FV070 - Opening balance not correct

FV070 - Overview

• Message type: E = Error

• Message class: FV - Electronic Banking Messages

• Message number: 070

• Message text: Opening balance not correct

What causes this issue?

The entered opening balance &V1& does not match the opening balance
&V2& specified when creating the account statement.

How to fix this error?

Leave the field empty or enter the value &V2&.

Error message extract from SAP system. Copyright SAP SE.

FV070 - Details

• The SAP error message FV070, which states "Opening balance not correct," typically occurs in the context of financial accounting when there is a discrepancy in the opening balance of a financial statement or account. This error can arise due to various reasons, and addressing it requires a systematic approach. Here’s a breakdown of the potential causes, solutions, and related information:
  Causes of FV070 Error
  
  
  Incorrect Opening Balance: The opening balance for the fiscal year may not match the closing balance from the previous year. This can happen if there were adjustments made after the year-end closing.
  
  
  Posting Errors: Transactions may have been posted incorrectly, leading to discrepancies in the balances.
  
  
  Missing Transactions: Some transactions that should have been included in the previous period may not have been posted, affecting the opening balance.
  
  
  
  Configuration Issues: Incorrect configuration in the financial settings or account settings can lead to discrepancies in balances.
  
  
  Data Migration Issues: If data was migrated