How To Fix GI705 - Check the fiscal year

SAP Error Message - Details

• Message type: E = Error

• Message class: GI - FI-SL update

• Message number: 705

• Message text: Check the fiscal year

What causes this issue?

You have not entered the fiscal year correctly.

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?

Please 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 GI705 - Check the fiscal year ?

  The SAP error message GI705, which states "Check the fiscal year," typically occurs when there is a mismatch or inconsistency related to the fiscal year settings in the system. This error can arise in various scenarios, such as during posting transactions, running reports, or executing certain financial operations.
  Causes of GI705 Error
  
  Fiscal Year Variant Issues: The fiscal year variant assigned to the company code may not match the fiscal year settings in the transaction being processed.
  Incorrect Posting Period: The posting period may be closed or not open for the fiscal year in question.
  Configuration Errors: There may be configuration issues in the financial settings, such as incorrect fiscal year settings in the controlling area or company code.
  Data Entry Errors: Users may inadvertently enter a fiscal year that does not exist or is not valid for the current transaction.
  
  Solutions to GI705 Error
  
  
  Check Fiscal Year Variant:
  
  Go to the configuration settings in SAP (Transaction Code: OB29) and verify that the fiscal year variant assigned to the company code is correct.
  Ensure that the fiscal year variant is properly defined and that the periods are set up correctly.
  
  
  
  Verify Posting Periods:
  
  Check the posting periods for the relevant fiscal year (Transaction Code: OB52). Ensure that the period you are trying to post to is open.
  If necessary, open the required posting period for the fiscal year.
  
  
  
  Review Transaction Data:
  
  Double-check the data being entered in the transaction. Ensure that the fiscal year and period are correct and valid.
  If you are using a specific transaction, ensure that the fiscal year aligns with the transaction's requirements.
  
  
  
  Consult with Configuration Team:
  
  If you are unsure about the fiscal year settings or if there are discrepancies, consult with your SAP configuration team or a functional consultant who specializes in financial accounting.
  
  
  
  Check for System Updates:
  
  Ensure that your SAP system is up to date with the latest patches and updates, as sometimes bugs can cause unexpected behavior.
  
  
  
  Related Information
  
  
  Transaction Codes:
  
  OB29: Define Fiscal Year Variants
  OB52: Open and Close Posting Periods
  OBA7: Define Document Types
  OBBP: Define Company Code
  
  
  
  SAP Notes: Check SAP Notes for any known issues or fixes related to the GI705 error. You can search for relevant notes in the SAP Support Portal.
  
  
  Documentation: Review SAP documentation related to financial accounting and fiscal year settings for a deeper understanding of how these configurations work.
  
  
  By following these steps, you should be able to identify the cause of the GI705 error and implement the necessary solutions to resolve it.