You cannot post to this fixed asset; Fiscal year already closed

What causes this issue?

Fiscal year &V1& is already closed for depreciation area &V2& in company
code &V3&.

System Response

The system does <ZH>not</> allow the posting.

How to fix this error?

Check whether the business transaction should actually be posted in the
closed fiscal year. If this is the case, open the closed fiscal year (if
possible) and reenter the business transaction.
Alternatively, you can post the business transaction in depreciation
areas with a fiscal year that is still open, although you have to
restrict the posting to the corresponding accounting principles and
depreciation areas.

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.