Not possible to reset balance carryforward in ccode &1 for closed year &2

What causes this issue?

You have tried to execute the balance carryforward with the option <LS>
Reset Balance Carryforward</> in company code &V1&.
However, this is <ZH>not</> possible as fiscal year &V2& is already
closed in Asset Accounting.

System Response

The balance carryforward can<ZH>not</> be executed with this option.

How to fix this error?

Delete the indicator <LS>Reset Balance Carryforward</> and restart the
balance carryforward.

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.