How To Fix ITMF1035 - Fiscal period &1.&2 is &3 for company &4. Creation not possible.

SAP Error Message - Details

• Message type: E = Error

• Message class: ITMF1 - Tax Management Framework Message Class

• Message number: 035

• Message text: Fiscal period &1.&2 is &3 for company &4. Creation not possible.

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message ITMF1035 - Fiscal period &1.&2 is &3 for company &4. Creation not possible. ?

  The SAP error message ITMF1035 indicates that there is an issue with the fiscal period and year for a specific company code. The message typically means that the fiscal period you are trying to post to is either closed or not open for posting in the specified company code.
  Cause:
  
  Closed Fiscal Period: The fiscal period you are trying to post to has been closed, meaning that no further postings can be made for that period.
  Incorrect Period/Year: The period or year you are trying to use may not be valid for the specified company code.
  Configuration Issues: The fiscal year variant may not be correctly configured, or the posting periods may not be set up properly in the system.
  
  Solution:
  
  
  Check Fiscal Period Status:
  
  Go to the transaction code OB52 (Maintain Fiscal Year Variants) to check the status of the fiscal periods for the relevant company code.
  Ensure that the period you are trying to post to is open for posting.
  
  
  
  Open the Period:
  
  If the period is closed and you need to make a posting, you can open the period by adjusting the settings in transaction OB52. Make sure to follow your organization's policies regarding period openings.
  
  
  
  Verify Company Code Settings:
  
  Ensure that the company code settings are correct and that the fiscal year variant is properly assigned to the company code.
  
  
  
  Check Posting Periods:
  
  Review the posting periods defined for the fiscal year variant to ensure they align with your posting requirements.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about opening a closed period, consult with your finance or accounting team to ensure compliance with financial regulations and internal policies.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OB52: To maintain fiscal year variants and check the status of posting periods.
  OB29: To configure fiscal year variants.
  
  
  
  Documentation: Refer to SAP documentation or your organization's SAP guidelines for more detailed instructions on managing fiscal periods and year-end closing processes.
  
  
  User Roles: Ensure that you have the necessary authorizations to make changes to fiscal periods and company code settings.
  
  
  By following these steps, you should be able to resolve the ITMF1035 error and successfully post your transactions.