3708566 - Error "Target fiscal year specifications XXXX wrong for company code YYYY" when doing the balance carryforward

The following error message is displayed: "Target fiscal year specifications XXXX wrong for company code YYYY. (Message no. AA709)" when doing the balance carryforward.

SAP S/4HANA Cloud Public Edition.

1. Attempt to perform balance carryforward for company code YYYY in the app Schedule General Ledger Jobs.
2. The following error message is displayed: "Target fiscal year specifications XXXX wrong for company code YYYY. (Message no. AA709)".

Incorrect years were set for the highest fiscal year and last closed fiscal year in the app Make Company Code Settings - Asset Accounting-Specific.

For example, the values entered were "25" instead of "2025" and "24" instead of "2024".

Since an asset has already been created, certain fields are locked in the app Make Company Code Settings - Asset Accounting-Specific. To unlock these fields, please delete the assets within the company code using the app Manage Fixed Assets, provided that there have been no postings to these assets yet.

Once the assets are deleted, navigate back to the app Make Company Code Settings - Asset Accounting-Specific and remove the two legacy segments which have created. After completing these steps, the fields should become editable again, allowing you to change the years from 25 and 24 to 2025 and 2024.

balance carryforward, target fiscal year specifications, AA709, highest fiscal year, Make Company Code Settings - Asset Accounting-Specific , KBA , FI-AA-AA-E-2CL , Periodic Posting (Public Cloud) , Problem