FGV572 - First period in calendar year & is & &

SAP Error Message - Details

• Message type: E = Error

• Message class: FGV - Fiscal year variants

• Message number: 572

• Message text: First period in calendar year & is & &

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FGV572 - First period in calendar year & is & & ?

  The SAP error message FGV572 typically indicates an issue related to the fiscal year variant and the posting periods in the financial accounting module. The message usually states something like "First period in calendar year & is & &," which suggests that there is a problem with the defined periods for the fiscal year.
  Cause:
  
  Fiscal Year Variant Configuration: The fiscal year variant may not be correctly configured, leading to discrepancies between the calendar year and the fiscal year.
  Posting Periods: The posting periods may not be open for the specified fiscal year, or the first period of the fiscal year is not aligned with the calendar year.
  Transaction Date: The transaction date may fall outside the allowed posting periods for the fiscal year.
  Period Locking: The periods may be locked for posting, preventing any transactions from being recorded in those periods.
  
  Solution:
  
  
  Check Fiscal Year Variant:
  
  Go to the configuration settings for the fiscal year variant in SAP (Transaction code: OB29).
  Ensure that the fiscal year variant is correctly defined and that the first period aligns with the calendar year.
  
  
  
  Review Posting Periods:
  
  Check the posting periods in the configuration (Transaction code: OB52).
  Ensure that the first period of the fiscal year is open for posting and that the periods are correctly defined.
  
  
  
  Adjust Transaction Date:
  
  Verify the date of the transaction you are trying to post. Ensure it falls within the open posting periods.
  
  
  
  Unlock Periods:
  
  If the periods are locked, you may need to unlock them temporarily to allow for posting. This can be done in the same posting period configuration (Transaction code: OB52).
  
  
  
  Consult with Finance Team:
  
  If you are unsure about making changes to the configuration, consult with your finance team or SAP administrator to ensure that any changes made are in line with your organization's financial policies.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  OB29: Define Fiscal Year Variants
  OB52: Open and Close Posting Periods
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to fiscal year and posting periods.
  Documentation: Review SAP documentation for detailed guidance on configuring fiscal year variants and posting periods.
  
  By following these steps, you should be able to resolve the FGV572 error and ensure that your posting periods are correctly set up for financial transactions.