How To Fix FV071 - Closing balance not correct

SAP Error Message - Details

• Message type: E = Error

• Message class: FV - Electronic Banking Messages

• Message number: 071

• Message text: Closing balance not correct

What causes this issue?

The entered closing balance &V1& does not match the closing 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.

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• What is the cause and solution for SAP error message FV071 - Closing balance not correct ?

  The SAP error message FV071 ("Closing balance not correct") typically occurs during the execution of financial transactions, particularly in the context of asset accounting. This error indicates that the closing balance of an asset does not match the expected value based on the transactions that have been processed.
  Causes of FV071 Error
  
  
  Incorrect Configuration: The asset accounting configuration may not be set up correctly, leading to discrepancies in the closing balance.
  
  
  Missing Transactions: There may be missing or unposted transactions that affect the asset's value, such as acquisitions, retirements, or adjustments.
  
  
  Posting Period Issues: The posting period may be closed, preventing new transactions from being recorded, which can lead to inconsistencies in the balance.
  
  
  Manual Adjustments: Manual adjustments or corrections made to the asset values may not have been properly reflected in the system.
  
  
  Data Consistency Issues: There may be inconsistencies in the data due to system errors, data migration issues, or incorrect manual entries.
  
  
  Solutions to