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Fiscal year variant K1 is not defined fro calendar year 2001

The error message, "Fiscal year variant K1 is not defined for calendar year 2001", appeared when creating an asset class (t-code AS01). Does anyone know where the strange "2001" came from?

Additional information:

- I'm in the process of configuring Asset year 2020.

- AA uses the same fiscal year variant (K1) as FI.

- Chart of Depre is a copy of the US reference one.

- S/4HANA 1809

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  • Best Answer
    Posted on Jul 14, 2020 at 02:03 AM

    In S/4HANA, we need to setup Asset Accounting Migration details including Fiscal year to use it. Its a one time setup. You can go through the below OSS Note.

    2653046 - Fiscal year variant XX is not defined for calendar year XXXX when creating asset master data


    • Please enter the transfer date in the Make Company Code Settings app.
    • In test script J62, you must satisfy the prerequisite mentioned under the Prerequisite - Preliminary Steps - Validate Asset Accounting System Readiness section. You must confirm that the Takeover Date is filled before starting AA testing in the Legacy Data Transfer section.
    • Please use the app Make Company Code Settings - Asset Accounting-Specific and maintain LDT segment for company codes
    • Note After the initial content activation is finalized, you must define a take-over date. This defines the current fiscal year and last closed fiscal year in Asset Accounting. The takeover date is critical for system processing, as it identifies the point in time that old asset values are loaded. For Cloud systems, this is usually the prior year end day. For example, if the system is in FY-2017 and the company is on a standard calendar Fiscal Year, the TAKEOVER DATE is 12/31/2016. Caution This implies the loading of old legacy assets is as of the Year End 2016.



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  • Posted on Jul 12, 2020 at 03:36 AM

    Hello Ken Guo

    Please check the configurations as per the WIKI Link as below:

    Also make sure, that the fiscal year variants assigned to the company code and asset accounting are same. This error typically happens when the fiscal year variants for Company code and leading depreciation area are not same.

    Thanks & Regards

    Sanil Bhandari

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  • Posted on Jul 14, 2020 at 12:45 AM

    Thanks Sanil.

    The error message appeared to have something to do with "Legacy Data Transfer" settings, although the system I used had no "legacy data" whatsoever to transfer.

    IMG > Financial Accounting > Asset Accounting > Preparations for Going Live > Production Startup > Define Settings for Company Code.

    I did the following to get rid of the error message but not sure what exactly fixed the problem:

    - Change the company code status to "Productive"

    - Create a "Legacy Data Transfer" segment and make it "Complete".

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