How To Fix AA271 - No depreciation area specified for insurance type & (Correct)

SAP Error Message - Details

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 271

• Message text: No depreciation area specified for insurance type & (Correct)

What causes this issue?

No depreciation area has been defined for insurance type &V1&. An
appropriate depreciation area has to be defined for each insurance type
in order for the base insurable values to be correctly updated in
current market value insurance, or for the insurance values to be
correctly determined in current market value insurance.

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?

Define a depreciation area for insurance type &V1&.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AA271 - No depreciation area specified for insurance type & (Correct) ?

  The SAP error message AA271 "No depreciation area specified for insurance type & (Correct)" typically occurs in the Asset Accounting (FI-AA) module when there is an issue with the configuration of depreciation areas related to insurance types. This error indicates that the system cannot find a valid depreciation area for the specified insurance type during the processing of asset transactions.
  Cause:
  
  Missing Configuration: The depreciation area for the specified insurance type has not been defined in the system.
  Incorrect Settings: The settings for the insurance type may be incorrect or incomplete.
  Asset Master Data Issues: The asset master record may not have the necessary depreciation area assigned for the insurance type.
  Customizing Issues: There may be issues in the customizing settings related to asset accounting.
  
  Solution:
  To resolve the error AA271, you can follow these steps:
  
  
  Check Asset Master Data:
  
  Go to the Asset Master Data (transaction code AS03) and check the asset record for the specified insurance type.
  Ensure that the relevant depreciation areas are correctly assigned.
  
  
  
  Review Depreciation Areas:
  
  Navigate to the configuration settings for Asset Accounting (transaction code SPRO).
  Follow the path: Financial Accounting (New) > Asset Accounting > Valuation > Define Depreciation Areas.
  Ensure that the depreciation area for the insurance type is defined and correctly configured.
  
  
  
  Check Insurance Type Configuration:
  
  Go to the configuration settings for insurance types (transaction code SPRO).
  Follow the path: Financial Accounting (New) > Asset Accounting > Insurance > Define Insurance Types.
  Verify that the insurance type is correctly set up and linked to the appropriate depreciation area.
  
  
  
  Test the Configuration:
  
  After making any changes, test the configuration by trying to post a transaction that previously resulted in the error.
  
  
  
  Consult Documentation:
  
  If the issue persists, consult SAP documentation or reach out to your SAP support team for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: AS03 (Display Asset), SPRO (Customizing), OAYZ (Define Insurance Types).
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional guidance.
  User Authorization: Ensure that you have the necessary authorizations to make changes in the Asset Accounting module.
  
  By following these steps, you should be able to identify and resolve the cause of the AA271 error in SAP.