How To Fix KH316 - The time reference chosen is not allowed here

KH316 - Overview

• Message type: E = Error

• Message class: KH - CO-PA Reporting

• Message number: 316

• Message text: The time reference chosen is not allowed here

What causes this issue?

It is not possible to perform a week-specific currency translation
for the data transfer from &V1&.

Error message extract from SAP system. Copyright SAP SE.

KH316 - Details

• The SAP error message KH316, "The time reference chosen is not allowed here," typically occurs in the context of controlling (CO) or project systems (PS) when there is an issue with the time reference settings in your configuration or data entry. This error can arise in various scenarios, such as when trying to create or modify cost planning, internal orders, or project-related data.
  Causes:
  
  Invalid Time Reference: The time reference you are trying to use (e.g., a specific period or date) is not valid for the context in which you are working. This could be due to the fiscal year variant settings or the specific configuration of the controlling area.
  Period Locking: The period you are trying to access may be locked for posting, either due to period-end closing activities or other restrictions.
  
  Configuration Issues: There may be issues with the configuration of the controlling area, such as the fiscal year variant not being