How To Fix MY302 - Fiscal year &1 and period &2 not allowed

SAP Error Message - Details

• Message type: E = Error

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

• Message number: 302

• Message text: Fiscal year &1 and period &2 not allowed

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message MY302 - Fiscal year &1 and period &2 not allowed ?

  The SAP error message MY302 indicates that a transaction is being attempted in a fiscal year and period that is not allowed based on the configuration of the system. This typically occurs in the context of financial postings, where the system checks whether the specified fiscal year and period are open for posting.
  Cause:
  
  Closed Fiscal Year/Period: The fiscal year or period you are trying to post to is closed. This can happen if the period has been closed in the financial settings.
  Configuration Settings: The settings in the financial accounting module (FI) may restrict postings to certain periods or years.
  Posting Date: The posting date of the transaction may fall outside the allowed range of open periods.
  Document Type Restrictions: Certain document types may have restrictions on which periods they can be posted to.
  
  Solution:
  
  
  Check Period Status: Verify the status of the fiscal year and period in the configuration settings. You can do this by navigating to:
  
  Transaction Code: OB52 (for maintaining posting periods)
  Ensure that the period you are trying to post to is open for the relevant company code.
  
  
  
  Adjust Posting Date: If the posting date is incorrect, adjust it to a date that falls within an open period.
  
  
  Open the Period: If necessary, you can open the period for posting by adjusting the settings in OB52. However, be cautious with this approach, as it may affect financial reporting and compliance.
  
  
  Check Document Type: Ensure that the document type you are using allows postings to the specified period. You can check this in the configuration settings for document types.
  
  
  Consult with Finance Team: If you are unsure about making changes to the posting periods, consult with your finance team or SAP administrator to ensure compliance with accounting policies.
  
  
  Related Information:
  
  Transaction Codes: 
  
  OB52: Maintain Posting Periods
  OAAQ: Asset Accounting Periods
  
  
  SAP Notes: Check for any relevant SAP Notes that may provide additional insights or solutions related to this error.
  User Authorization: Ensure that you have the necessary authorizations to post in the specified periods.
  
  By following these steps, you should be able to resolve the MY302 error and successfully post your transactions.