How To Fix GZ720 - The carryforward transaction type for standard trans.type & is missing

GZ720 - Overview

• Message type: E = Error

• Message class: GZ - Message class for FI-LC

• Message number: 720

• Message text: The carryforward transaction type for standard trans.type & is missing

What causes this issue?

The carryforward transaction type is not defined for standard
transaction type &V1&.

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?

Standard transaction type &V1& defined under classification key 'BWD'
is either not defined as a transaction type, or no carryforward
transaction type is allocated.
Complete the definition as deemed necessary.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message GZ720 - The carryforward transaction type for standard trans.type & is missing ?

  The SAP error message GZ720 indicates that there is a missing carryforward transaction type for a standard transaction type in the system. This error typically arises during the year-end closing process when the system attempts to carry forward balances from one fiscal year to the next.
  
  Cause:
  
  Missing Configuration: The carryforward transaction type has not been defined in the system for the specified standard transaction type.
  Incorrect Settings: The settings for the carryforward process may not be correctly configured in the relevant financial modules (e.g., Asset Accounting, General Ledger).
  Custom Transaction Types: If custom transaction types are used, they may not have corresponding carryforward transaction types defined.
  
  
  Solution:
  
  
  Define Carryforward Transaction Type:
  
  Go to the configuration settings in SAP (usually through SPRO).
  Navigate to the relevant area for carryforward settings (e.g., for Asset Accounting, it would be under Asset Accounting -> Period-End Closing -> Carryforward -> Define Carryforward Transaction Types).
  Create or modify the carryforward transaction type for the