How To Fix AA692 - The entered fiscal year & is in a closed time period.

SAP Error Message - Details

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 692

• Message text: The entered fiscal year & is in a closed time period.

What causes this issue?

In order to carry out the depreciation posting, you have entered the
fiscal year &V1&.
This fiscal year is already closed. You can only carry out a
depreciation posting run in an open fiscal year.

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?

Check your input.
If it is nonetheless necessary to carry out a depreciation posting in a
closed fiscal year, you must first re-open fiscal year &V1& using the
relevant Customizing setting.
<ZH>Caution:</>
When you re-open a closed fiscal year, <ZH>all</> functions in this
fiscal year are available again (recalculation of depreciation,
postings, and so on). You have to organize which activities you want to
allow in the fiscal year.

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 AA692 - The entered fiscal year & is in a closed time period. ?

  The SAP error message AA692 indicates that you are trying to post an asset transaction for a fiscal year that is closed in the system. This typically occurs when you attempt to make a posting (such as an acquisition, transfer, or retirement of an asset) for a fiscal year that has already been closed for financial transactions.
  Cause:
  
  Closed Fiscal Year: The fiscal year you are trying to post to has been closed in the system, meaning that no further postings can be made for that year.
  Configuration Settings: The system settings may prevent postings to closed periods to ensure the integrity of financial reporting.
  Incorrect Posting Date: The posting date may have been incorrectly set to a date in a closed fiscal year.
  
  Solution:
  
  Check Fiscal Year Status: Verify the status of the fiscal year in question. You can do this by navigating to the relevant configuration settings in SAP (Transaction Code: OB52) to see which periods are open or closed.
  Open the Fiscal Year: If necessary and appropriate, you can open the fiscal year for posting. This should be done with caution and typically requires authorization. Consult with your finance team or SAP administrator before proceeding.
  Change Posting Date: If the posting date is incorrect, adjust the posting date to a valid open period. Ensure that the date falls within an open fiscal year.
  Use a Different Transaction: If the transaction is not critical, consider postponing it until the next fiscal year or until the fiscal year is reopened if that is an option.
  Consult Documentation: Review SAP documentation or consult with your SAP support team for specific guidance related to your organization's policies and procedures.
  
  Related Information:
  
  
  Transaction Codes: 
  
  OB52: To check and manage the open and closed periods.
  AS01: To create an asset.
  AS02: To change an asset.
  AS03: To display an asset.
  
  
  
  SAP Notes: Check for any relevant SAP Notes that may provide additional insights or solutions related to this error message.
  
  
  User Authorization: Ensure that you have the necessary authorizations to make changes to fiscal year settings or to post asset transactions.
  
  
  Consult with Finance Team: Always coordinate with your finance team to ensure compliance with accounting policies and practices before making changes to fiscal year settings.
  
  
  By following these steps, you should be able to resolve the AA692 error and proceed with your asset transactions in SAP.