How To Fix PFM_1072 - You cannot close current year because previous year is not closed yet

SAP Error Message - Details

• Message type: E = Error

• Message class: PFM_1 - Message class for POCLIS

• Message number: 072

• Message text: You cannot close current year because previous year is not closed yet

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message PFM_1072 - You cannot close current year because previous year is not closed yet ?

  The SAP error message PFM_1072 indicates that you are attempting to close the current fiscal year in the SAP system, but the previous fiscal year has not been closed yet. This is a common issue in financial and controlling modules where year-end closing processes must be completed in a specific order.
  Cause:
  The primary cause of this error is that the system requires all financial transactions and adjustments for the previous fiscal year to be finalized before you can proceed to close the current fiscal year. This ensures that all financial data is accurate and complete before moving on to the next period.
  Solution:
  To resolve this error, you need to follow these steps:
  
  
  Check Previous Year Closing Status:
  
  Verify if the previous fiscal year has been closed. You can do this by checking the status in the financial closing cockpit or relevant transaction codes (like OB52 for period control).
  
  
  
  Complete All Transactions:
  
  Ensure that all necessary transactions for the previous year have been posted. This includes any adjustments, accruals, and corrections.
  
  
  
  Run Year-End Closing Activities:
  
  Execute all required year-end closing activities for the previous year. This may include:
  
  Running the balance carry forward process.
  Performing any necessary reconciliations.
  Closing sub-ledgers and ensuring that all accounts are balanced.
  
  
  
  
  
  Use Transaction Codes:
  
  Use relevant transaction codes to check and close the previous year. Common transaction codes include:
  
  F.01: Financial Statement
  F.16: Carry Forward Balances
  OB52: Open and Close Posting Periods
  
  
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or your organization's internal guidelines for specific steps related to your version of SAP and your organization's processes.
  
  
  
  Seek Help from SAP Support:
  
  If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting SAP Notes for any known issues or patches related to this error.
  
  
  
  Related Information:
  
  Fiscal Year Variant: Ensure that the fiscal year variant is correctly set up in your configuration.
  Posting Periods: Check the posting periods to ensure they are correctly defined and that the previous year’s periods are closed.
  SAP Notes: Look for SAP Notes related to PFM_1072 for any additional guidance or updates that may be relevant to your specific SAP version.
  
  By following these steps, you should be able to resolve the PFM_1072 error and successfully close the current fiscal year once the previous year is properly closed.