AA704 - The target fiscal year is not the next fiscal year

SAP Error Message - Details

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 704

• Message text: The target fiscal year is not the next fiscal year

What causes this issue?

The specified 'new fiscal year' is <ZH>not</> the year directly
following the current fiscal year.

System Response

Company code will <ZH>not</> be processed.

How to fix this error?

Correct the parameter control 'New fiscal year'.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

AnswerBot

• What is the cause and solution for SAP error message AA704 - The target fiscal year is not the next fiscal year ?

  The SAP error message AA704, "The target fiscal year is not the next fiscal year," typically occurs in the context of asset accounting when you are trying to perform a transaction that involves asset depreciation or adjustments for a fiscal year that is not the immediate next fiscal year.
  Cause:
  This error usually arises due to one of the following reasons:
  
  Fiscal Year Settings: The system is configured to only allow certain transactions in the next fiscal year. If you are trying to post or adjust an asset in a fiscal year that is not the next one, the system will throw this error.
  Period Closing: The fiscal year you are trying to access may be closed or not yet open for posting.
  Transaction Type: The type of transaction you are attempting may have restrictions on the fiscal years it can affect.
  
  Solution:
  To resolve the AA704 error, you can take the following steps:
  
  
  Check Fiscal Year Settings:
  
  Ensure that the fiscal year you are trying to post to is indeed the next fiscal year. You can check this in the configuration settings for your company code in SAP.
  Navigate to the configuration for Asset Accounting (Transaction code: SPRO) and verify the fiscal year variant settings.
  
  
  
  Open the Fiscal Year:
  
  If the fiscal year is closed, you may need to open it for posting. This can be done through the transaction code OB52 (Open and Close Posting Periods) where you can adjust the posting periods for the relevant company code and fiscal year.
  
  
  
  Review Transaction Type:
  
  Ensure that the transaction you are trying to execute is appropriate for the fiscal year you are working with. Some transactions may only be allowed in specific fiscal years.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for any specific configurations or restrictions that may apply to your organization.
  
  
  
  Check User Authorizations:
  
  Ensure that you have the necessary authorizations to perform transactions in the specified fiscal year.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as:
  
  AS01: Create Asset
  AS02: Change Asset
  AS03: Display Asset
  OB52: Open and Close Posting Periods
  
  
  SAP Notes: Check for any SAP Notes related to this error message for additional insights or patches that may address the issue.
  Consulting with SAP Support: If the issue persists, consider reaching out to SAP support for further assistance, especially if it involves complex configurations or customizations.
  
  By following these steps, you should be able to resolve the AA704 error and proceed with your asset accounting transactions.