How To Fix KC005 - Fiscal year variant & does not exist

SAP Error Message - Details

• Message type: E = Error

• Message class: KC - Cost Collector

• Message number: 005

• Message text: Fiscal year variant & does not exist

What causes this issue?

Fiscal year variant &v1& is assigned to controlling area &v2&. However,
this fiscal year variant does not exist.

System Response

Processing was terminated.

How to fix this error?

Assign a valid fiscal year variant to controlling area &v2& or create
fiscal year variant &v1&.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KC005 - Fiscal year variant & does not exist ?

  The SAP error message KC005 indicates that the fiscal year variant specified in your configuration does not exist or is not recognized by the system. This error typically occurs in the context of controlling (CO) or financial accounting (FI) when trying to post transactions or generate reports that require a valid fiscal year variant.
  Cause:
  
  Incorrect Configuration: The fiscal year variant may not have been set up correctly in the system.
  Missing Variant: The fiscal year variant you are trying to use has not been defined in the system.
  Incorrect Assignment: The fiscal year variant may not be assigned to the company code or controlling area you are working with.
  Typographical Error: There may be a typo in the fiscal year variant code being used in the transaction.
  
  Solution:
  
  
  Check Configuration:
  
  Go to the SAP Easy Access screen and navigate to SPRO (SAP Project Reference Object).
  Follow the path: Financial Accounting (New) > Financial Accounting Global Settings (New) > Fiscal Year > Define Fiscal Year Variants.
  Ensure that the fiscal year variant you are trying to use is listed and correctly configured.
  
  
  
  Assign Fiscal Year Variant:
  
  Ensure that the fiscal year variant is assigned to the relevant company code or controlling area.
  You can check this in the same SPRO path under Assign Fiscal Year Variant to Company Code or Assign Fiscal Year Variant to Controlling Area.
  
  
  
  Verify Input:
  
  Double-check the input for any transactions or reports to ensure that the fiscal year variant code is entered correctly without any typographical errors.
  
  
  
  Create Fiscal Year Variant:
  
  If the fiscal year variant does not exist, you may need to create it. This can be done in the same configuration area where you define fiscal year variants.
  
  
  
  Consult Documentation:
  
  If you are unsure about the fiscal year variant settings, consult the SAP documentation or your organization's SAP support team for guidance.
  
  
  
  Related Information:
  
  Fiscal Year Variants: These are used to define the structure of the fiscal year, including the number of posting periods and special periods.
  Transaction Codes: You may use transaction codes like OB29 (to define fiscal year variants) and OB37 (to assign fiscal year variants to company codes) for quick access.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to fiscal year variants and error messages.
  
  By following these steps, you should be able to resolve the KC005 error and ensure that your fiscal year variant is correctly configured and assigned.