How To Fix AA059 - Insurance type & does not exist (Create this type)

SAP Error Message - Details

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 059

• Message text: Insurance type & does not exist (Create this type)

What causes this issue?

Inusrance type &V1& is not defined.

System Response

The system cannot determine the insurable values without an insurance
type. No further processing of insurable values is possible.

How to fix this error?

Define the insurance type &V1& you have entered again and enter the
correct control parameters.

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.

Smart SAP Assistant

• What is the cause and solution for SAP error message AA059 - Insurance type & does not exist (Create this type) ?

  The SAP error message AA059, which states "Insurance type & does not exist (Create this type)," typically occurs in the context of Asset Accounting (FI-AA) when you are trying to process an asset that has an insurance type that has not been defined in the system.
  Cause:
  The error is triggered when:
  
  An asset is assigned an insurance type that is not available in the system.
  The insurance type may have been deleted or not created in the configuration settings.
  There may be a typo or incorrect entry in the asset master data regarding the insurance type.
  
  Solution:
  To resolve this error, you need to create the missing insurance type in the system. Here are the steps to do that:
  
  
  Access the Customizing Menu:
  
  Go to the SAP Easy Access screen.
  Navigate to SPRO (SAP Project Reference Object) > SAP Reference IMG.
  
  
  
  Define Insurance Types:
  
  Follow the path: Financial Accounting (New) > Asset Accounting > Master Data > Define Insurance Types.
  Here, you can create a new insurance type by clicking on the "New Entries" button.
  
  
  
  Create the Insurance Type:
  
  Enter the required details for the new insurance type, such as the insurance type code and description.
  Save your changes.
  
  
  
  Check Asset Master Data:
  
  After creating the insurance type, check the asset master data to ensure that the correct insurance type is assigned to the asset.
  
  
  
  Test the Changes:
  
  Try to perform the action that previously triggered the error to confirm that the issue has been resolved.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  You may use transaction codes like AS01 (Create Asset), AS02 (Change Asset), and AS03 (Display Asset) to manage asset master data.
  Use SPRO to access the configuration settings.
  
  
  
  Documentation:
  
  Refer to SAP Help documentation for Asset Accounting for more detailed information on managing asset master data and insurance types.
  
  
  
  User Authorization:
  
  Ensure that you have the necessary authorizations to create or modify insurance types in the system.
  
  
  
  By following these steps, you should be able to resolve the AA059 error and ensure that the necessary insurance types are available for your asset accounting processes.