Fiscal year change in co.code & possible only after year-end closing &

What causes this issue?

The fiscal year change was <ZH>not</> performed for company code &V1& as
more than two fiscal years are open in Asset Accounting.

System Response

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

How to fix this error?

First carry out a year-end closing for fiscal year &V2& in company code
&V1&.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.