How To Fix PSM_S4C_FM_MD235 - Fiscal year closing entries already exist in the universal journal.

SAP Error Message - Details

• Message type: E = Error

• Message class: PSM_S4C_FM_MD -

• Message number: 235

• Message text: Fiscal year closing entries already exist in the universal journal.

What causes this issue?

Changing the <LS>Use Budget Account as Carryforward Account</> budgetary
setting is not allowed, since fiscal year closing entries already exist
in universal journal for this budget account.

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?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message PSM_S4C_FM_MD235 - Fiscal year closing entries already exist in the universal journal. ?

  The SAP error message PSM_S4C_FM_MD235 indicates that fiscal year closing entries already exist in the Universal Journal for the specified period. This typically occurs when you attempt to post or make changes to financial documents in a period that has already been closed, which is a common scenario in financial accounting processes.
  Cause:
  
  Closed Fiscal Year: The fiscal year you are trying to post to has already been closed, meaning that all necessary closing entries have been made.
  Posting Period Status: The posting period for the transaction you are trying to execute is set to "closed" in the system.
  Existing Entries: There are already entries in the Universal Journal for the fiscal year and period you are trying to access.
  
  Solution:
  
  
  Check Posting Period: Verify the status of the posting period in the configuration settings. You can do this by navigating to:
  
  Transaction Code: OB52
  Ensure that the posting period is open for the transactions you want to perform.
  
  
  
  Review Existing Entries: Check if there are existing closing entries for the fiscal year in question. You can do this by:
  
  Using transaction codes like FB03 (Display Document) to review the documents in the Universal Journal.
  Analyzing the entries to understand if they are valid and if any adjustments are necessary.
  
  
  
  Reopen the Fiscal Year: If you need to make adjustments or post new entries, you may need to reopen the fiscal year. This should be done with caution and typically requires authorization:
  
  Transaction Code: OB52 (to change the status of the posting periods).
  Ensure that all necessary stakeholders are informed and that the implications of reopening the fiscal year are understood.
  
  
  
  Consult with Finance Team: If you are unsure about the implications of reopening a fiscal year or making changes to existing entries, consult with your finance or accounting team to ensure compliance with accounting standards and practices.
  
  
  Use Correct Transaction Codes: Ensure you are using the correct transaction codes for the operations you intend to perform. If you are trying to post adjustments, make sure you are using the appropriate methods for adjustments in closed periods.
  
  
  Related Information:
  
  SAP Notes: Check SAP Notes for any specific guidance or patches related to this error message. SAP frequently updates its knowledge base with solutions for common issues.
  Documentation: Review SAP documentation related to fiscal year-end closing processes and the Universal Journal to understand the implications of closing entries.
  Training: If you frequently encounter this error, consider training sessions on financial closing processes in SAP to better understand how to manage fiscal year-end activities.
  
  By following these steps, you should be able to resolve the error and understand the underlying issues related to fiscal year closing entries in SAP.