How To Fix MQ590 - Closed year &1 in company code &2 and area &3 incorrect

SAP Error Message - Details

• Message type: E = Error

• Message class: MQ - Messages for Euro Changeover Package

• Message number: 590

• Message text: Closed year &1 in company code &2 and area &3 incorrect

What causes this issue?

The last closed year must be exactly one year before current fiscal
year &4&. Only then is the changeover possible.

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?

The closed year is before the current fiscal year:
Carry out year-end closing for Asset Accounting and close the year.
<DS:TRAN.AJAB>Proceed</>
The closed year is either after or the same as the current fiscal year:
Carry out the fiscal year change for the company code until the current
fiscal year is exactly one year after the last closed year.
<DS:TRAN.AJRW>Execute fiscal year change</>

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message MQ590 - Closed year &1 in company code &2 and area &3 incorrect ?

  The SAP error message MQ590 "Closed year &1 in company code &2 and area &3 incorrect" typically occurs when there is an attempt to post or process transactions in a closed fiscal year for a specific company code and area (such as a cost accounting area). This error indicates that the system is preventing actions that would affect financial data in a year that has already been closed.
  
  Cause:
  
  Closed Fiscal Year: The primary cause of this error is that the fiscal year specified in the error message has been closed in the system, meaning that no further postings or adjustments can be made for that year.
  Incorrect Configuration: There may be a configuration issue where the system is not recognizing the correct status of the fiscal year for the specified company code and area.
  Posting Attempts: Users may be attempting to post transactions (like journal entries, invoices, etc.) that are not allowed in