AA688 - No posting possible in fiscal year &

SAP Error Message - Details

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 688

• Message text: No posting possible in fiscal year &

What causes this issue?

No posting is possible in the fiscal year &V1& specified. The fiscal
year specified differs by more than a year from the fiscal year in
which the last postings were performed.

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?

Correct your fiscal year specifications.

Error message extract from SAP system. Copyright SAP SE.

AnswerBot

• What is the cause and solution for SAP error message AA688 - No posting possible in fiscal year & ?

  The SAP error message AA688 "No posting possible in fiscal year &" typically occurs in the Asset Accounting (FI-AA) module when you attempt to post a transaction in a fiscal year that is either closed or not open for posting. This error can arise in various scenarios, such as when trying to post asset transactions like acquisitions, retirements, or adjustments.
  Cause:
  
  Closed Fiscal Year: The fiscal year you are trying to post to has been closed, meaning that no further postings can be made.
  Posting Period Not Open: The specific posting period within the fiscal year is not open for posting.
  Configuration Issues: There may be configuration settings in the Asset Accounting module that restrict postings to certain periods or years.
  
  Solution:
  
  
  Check Fiscal Year Status:
  
  Go to the transaction code OB52 to check the status of the fiscal year and the posting periods. Ensure that the fiscal year you are trying to post to is open.
  If the fiscal year is closed, you may need to open it temporarily for the necessary postings, but this should be done with caution and in accordance with your organization's policies.
  
  
  
  Open Posting Period:
  
  In the same transaction (OB52), verify that the specific posting period you are trying to use is open. If it is closed, you can open it for the required transactions.
  
  
  
  Review Configuration:
  
  Check the configuration settings in the Asset Accounting module to ensure that there are no restrictions on posting to the fiscal year or periods. This can be done in the configuration settings under Financial Accounting > Asset Accounting > Periodic Processing > Open and Close Posting Periods.
  
  
  
  Consult with Finance Team:
  
  If you are unsure about opening a fiscal year or posting period, consult with your finance or accounting team to ensure compliance with financial regulations and internal policies.
  
  
  
  Use Correct Transaction Codes:
  
  Ensure that you are using the correct transaction codes for the type of posting you are trying to perform. For example, use AB01 for asset acquisition, AB08 for asset retirement, etc.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes in Asset Accounting, such as:
  
  AB01: Asset Acquisition
  AB02: Asset Transfer
  AB08: Asset Retirement
  
  
  Documentation: Refer to SAP documentation or help files for detailed information on Asset Accounting processes and posting periods.
  User Roles: Ensure that you have the necessary authorizations to perform postings in the Asset Accounting module.
  
  By following these steps, you should be able to resolve the AA688 error and successfully post your transactions in SAP.