How To Fix MY070 - Select a posting date in the valid period (current/previous period)

SAP Error Message - Details

• Message type: E = Error

• Message class: MY - Messages for Balance Sheet Valuation(Low.Val.Det./LIFO/FIFO)

• Message number: 070

• Message text: Select a posting date in the valid period (current/previous period)

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message MY070 - Select a posting date in the valid period (current/previous period) ?

  The SAP error message MY070, which states "Select a posting date in the valid period (current/previous period)," typically occurs when a user attempts to post a transaction with a posting date that falls outside the allowed posting periods defined in the system. This is common in financial transactions, such as journal entries or invoice postings.
  Cause:
  
  Posting Date Outside Valid Range: The posting date you are trying to use is either in a future period or in a closed period (previous period) that is not open for posting.
  Period Locking: The financial periods may have been closed for posting, which means that no transactions can be posted to those periods.
  Configuration Settings: The settings in the financial accounting configuration may restrict posting to certain periods.
  
  Solution:
  
  
  Check Posting Date: Ensure that the posting date you are using is within the current or previous open periods. You can check the current period in the SAP system by navigating to:
  
  Transaction Code: OB52 (for period control) or use the menu path: Financial Accounting > General Ledger > Periodic Processing > Closing > Open and Close Posting Periods.
  
  
  
  Open the Required Period: If you need to post to a closed period, you may need to open that period temporarily. This can be done by:
  
  Going to Transaction Code: OB52.
  Adjusting the date ranges to include the period you need to post to.
  Note: Only users with the appropriate authorization can change these settings.
  
  
  
  Use Current Period: If possible, change the posting date to the current open period to avoid the error.
  
  
  Consult with Finance Team: If you are unsure about changing periods or if it is against company policy, consult with your finance or accounting team to ensure compliance with internal controls.
  
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB52: To manage posting periods.
  FBL1N, FBL3N, FBL5N: To view line items for vendors, G/L accounts, and customers respectively.
  
  
  
  User Authorizations: Ensure that you have the necessary authorizations to post in the desired periods.
  
  
  SAP Notes: Check for any relevant SAP Notes or documentation that may provide additional context or solutions for specific scenarios related to this error.
  
  
  Training: If you frequently encounter this error, consider training on SAP financial processes to better understand period management and posting rules.
  
  
  By following these steps, you should be able to resolve the MY070 error and successfully post your transactions.