How To Fix KI268 - Define a fiscal year variant first for company code &

SAP Error Message - Details

• Message type: E = Error

• Message class: KI -

• Message number: 268

• Message text: Define a fiscal year variant first for company code &

What causes this issue?

A fiscal year variant has not been defined for company code &V1&.

System Response

A fiscal year variant is required to determine an accounting period
from the posting date.

How to fix this error?

Maintain a fiscal year variant for company code &V1& using the FI
configuration functions.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KI268 - Define a fiscal year variant first for company code & ?

  The SAP error message KI268, which states "Define a fiscal year variant first for company code &," typically occurs when you attempt to perform a transaction related to controlling (CO) without having defined a fiscal year variant for the specified company code. This is a common issue in SAP systems, particularly when setting up or configuring controlling areas.
  Cause:
  The error arises because the system requires a fiscal year variant to determine how the fiscal year is structured (e.g., number of periods, special periods) for financial reporting and controlling purposes. If this variant is not defined for the company code in question, the system cannot proceed with the transaction.
  Solution:
  To resolve this error, you need to define a fiscal year variant for the affected company code. Here are the steps to do this:
  
  
  Access the SAP Easy Access Menu:
  
  Go to the SAP Easy Access screen.
  
  
  
  Navigate to the Configuration:
  
  Use the following path: 
  SPRO -> SAP Reference IMG -> Financial Accounting (New) -> Financial Accounting Global Settings (New) -> Fiscal Year -> Define Fiscal Year Variant
  
  
  
  
  Define a Fiscal Year Variant:
  
  In the "Define Fiscal Year Variant" screen, you can create a new fiscal year variant or modify an existing one.
  Specify the number of periods and any special periods as required for your business.
  
  
  
  Assign the Fiscal Year Variant to the Company Code:
  
  After defining the fiscal year variant, you need to assign it to the relevant company code.
  Navigate to:
  SPRO -> SAP Reference IMG -> Financial Accounting (New) -> Financial Accounting Global Settings (New) -> Fiscal Year -> Assign Fiscal Year Variant to Company Code
  
  Select the company code and assign the fiscal year variant you just created or modified.
  
  
  
  Save Your Changes:
  
  Make sure to save your changes after assigning the fiscal year variant.
  
  
  
  Test the Transaction Again:
  
  After completing the above steps, try to perform the transaction that previously resulted in the KI268 error. The error should no longer occur.
  
  
  
  Related Information:
  
  Fiscal Year Variants: These define how the fiscal year is structured in terms of periods and special periods. Common fiscal year variants include calendar year (January to December) or non-calendar years.
  Controlling Area: Ensure that the controlling area is properly configured and linked to the company code, as this can also affect the ability to perform controlling transactions.
  Authorization: Ensure that you have the necessary authorizations to make changes in the configuration settings.
  
  If you continue to experience issues after following these steps, it may be helpful to consult with your SAP Basis or Finance team for further assistance, as there may be additional configuration settings or dependencies that need to be addressed.