How To Fix KM262 - The system could not determine the first day of fiscal year &

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 262

• Message text: The system could not determine the first day of fiscal year &

What causes this issue?

The system could not determine the first day of fiscal year &V1& in
company code &V2& with the fiscal-year variant &V3&.

System Response

The asset portfolios were not transferred in company code &V2&.

How to fix this error?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message KM262 - The system could not determine the first day of fiscal year & ?

  The SAP error message KM262, which states "The system could not determine the first day of fiscal year &," typically occurs in the context of SAP Controlling (CO) or Financial Accounting (FI) when the system is unable to identify the starting date of the fiscal year for a particular company code or controlling area. This can happen for several reasons, including configuration issues or missing data.
  Causes:
  
  Missing Fiscal Year Variant: The fiscal year variant may not be assigned to the company code or controlling area.
  Incorrect Configuration: The fiscal year variant may not be correctly configured in the system.
  Missing Master Data: The necessary master data for the company code or controlling area may be incomplete or missing.
  Period Locking: The periods may be locked, preventing the system from determining the fiscal year start.
  Incorrect Date Settings: The system date settings may not align with the fiscal year settings.
  
  Solutions:
  
  
  Check Fiscal Year Variant Assignment:
  
  Go to the configuration settings in SAP (Transaction code: OB29).
  Ensure that the fiscal year variant is correctly assigned to the relevant company code or controlling area.
  
  
  
  Verify Fiscal Year Variant Configuration:
  
  Check the configuration of the fiscal year variant (Transaction code: OB37).
  Ensure that the start date and end date of the fiscal year are correctly defined.
  
  
  
  Review Master Data:
  
  Ensure that all necessary master data for the company code or controlling area is complete and correctly maintained.
  Check if the company code is active and properly set up.
  
  
  
  Check Period Locking:
  
  Review the period settings to ensure that the periods are not locked for the fiscal year in question.
  You can check this in the transaction code OB52.
  
  
  
  System Date Settings:
  
  Ensure that the system date is set correctly and that it falls within the fiscal year you are trying to access.
  
  
  
  Consult SAP Notes:
  
  Check for any relevant SAP Notes that may address this specific error message or provide additional troubleshooting steps.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OB29 (Fiscal Year Variant), OB37 (Define Fiscal Year Variant), and OB52 (Open and Close Posting Periods).
  Documentation: Review SAP documentation or help files related to fiscal year configuration and controlling area settings.
  Support: If the issue persists, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  By following these steps, you should be able to identify and resolve the cause of the KM262 error in your SAP system.