AA701 - Parameter 'New fiscal year' entered incorrectly

SAP Error Message - Details

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 701

• Message text: Parameter 'New fiscal year' entered incorrectly

What causes this issue?

The parameter 'New fiscal year' has been entered incorrectly.
The entry is not numerical.

System Response

The program run will be stopped.

How to fix this error?

Correct your entry.

Error message extract from SAP system. Copyright SAP SE.

AnswerBot

• What is the cause and solution for SAP error message AA701 - Parameter 'New fiscal year' entered incorrectly ?

  The SAP error message AA701, which states "Parameter 'New fiscal year' entered incorrectly," typically occurs in the context of Asset Accounting (FI-AA) when there is an issue with the fiscal year settings for asset transactions. This error can arise during various processes, such as when trying to execute year-end closing activities or when attempting to post transactions in a new fiscal year.
  Causes:
  
  Incorrect Fiscal Year Setting: The fiscal year you are trying to enter may not be defined in the system or may not match the configuration settings.
  Fiscal Year Variant Issues: The fiscal year variant assigned to the company code may not be compatible with the new fiscal year you are trying to enter.
  Period Locking: The new fiscal year may be locked for posting, preventing any transactions from being recorded.
  Configuration Errors: There may be configuration issues in the Asset Accounting settings that need to be addressed.
  
  Solutions:
  
  
  Check Fiscal Year Configuration:
  
  Go to the configuration settings in SAP (Transaction code: SPRO).
  Navigate to Financial Accounting (New) > Asset Accounting > Fiscal Year Change.
  Ensure that the new fiscal year is correctly defined and that the fiscal year variant is set up properly.
  
  
  
  Verify Company Code Settings:
  
  Check the company code settings to ensure that the fiscal year variant assigned is correct.
  Use Transaction code: OAVC to review the fiscal year variant assigned to the company code.
  
  
  
  Unlock the New Fiscal Year:
  
  If the new fiscal year is locked, you may need to unlock it for posting. This can be done in the period control settings.
  Use Transaction code: OB52 to check and adjust the posting periods.
  
  
  
  Review Asset Transactions:
  
  Ensure that there are no pending transactions that need to be processed before the new fiscal year can be opened.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help files for any specific notes related to the error message AA701.
  
  
  
  Contact SAP Support:
  
  If the issue persists after checking the above points, consider reaching out to SAP support for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as SPRO (Customizing), OAVC (View Company Code), and OB52 (Manage Posting Periods).
  SAP Notes: Check for any SAP Notes related to this error message in the SAP Support Portal, as there may be specific patches or updates that address this issue.
  User Authorization: Ensure that you have the necessary authorizations to make changes to the fiscal year settings and to post transactions.
  
  By following these steps, you should be able to identify and resolve the cause of the AA701 error message in SAP.