How To Fix KM034 - Fiscal year variant & is not allowed in company code &

SAP Error Message - Details

• Message type: E = Error

• Message class: KM - Error messages for Profit Center Accounting

• Message number: 034

• Message text: Fiscal year variant & is not allowed in company code &

What causes this issue?

All company codes in a given controlling area must have the same fiscal
year variant.

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?

Assign all the company codes in this controlling area the same fiscal
year variant. If this is not possible, you cannot use profit center
accounting in this controlling area. Inform your system administrator.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM034 - Fiscal year variant & is not allowed in company code & ?

  The SAP error message KM034 indicates that there is an issue with the fiscal year variant assigned to a company code in the context of a financial transaction or posting. This error typically arises when the fiscal year variant used in a transaction does not match the fiscal year variant assigned to the company code.
  Cause:
  
  Mismatch of Fiscal Year Variants: The fiscal year variant used in the transaction does not correspond to the fiscal year variant assigned to the company code.
  Incorrect Configuration: The fiscal year variant may not be properly configured in the system for the company code.
  Posting Period Issues: The posting period may be closed or not open for the fiscal year variant assigned to the company code.
  
  Solution:
  
  
  Check Company Code Configuration:
  
  Go to the transaction code OBY6 (or navigate through the SAP menu: Financial Accounting > General Ledger > Master Data > Company Code > Edit Company Code Data).
  Verify the fiscal year variant assigned to the company code in question.
  
  
  
  Check Transaction Fiscal Year Variant:
  
  Ensure that the fiscal year variant used in the transaction matches the one assigned to the company code.
  If necessary, adjust the fiscal year variant in the transaction or change the company code configuration.
  
  
  
  Review Posting Periods:
  
  Use transaction code OB52 to check the posting periods for the company code and fiscal year variant.
  Ensure that the posting period is open for the transaction date you are trying to post.
  
  
  
  Adjust Fiscal Year Variant:
  
  If the fiscal year variant needs to be changed, you can do this in the configuration settings. However, be cautious as changing the fiscal year variant can have significant implications on financial reporting.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for specific guidance related to your organization's configuration.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OBY6: Configuration for Company Code settings.
  OB52: Configuration for posting periods.
  
  
  
  Fiscal Year Variants: These define how the fiscal year is structured (e.g., whether it is a calendar year, a non-calendar year, etc.) and how periods are defined within that year.
  
  
  SAP Notes: Check SAP Notes for any known issues or updates related to this error message.
  
  
  User Roles and Authorizations: Ensure that the user has the necessary authorizations to make changes to company code settings or fiscal year variants.
  
  
  By following these steps, you should be able to resolve the KM034 error and ensure that the fiscal year variant is correctly configured for your company code.