How To Fix AA354 - Posting retirement only possible via revenue account

AA354 - Overview

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 354

• Message text: Posting retirement only possible via revenue account

What causes this issue?

You have tried to post to an asset by entering a
credit posting key and a retirement transaction type in the footer.
However, it is not possible to post retirements in this way.

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?

If you are dealing with a retirement with revenue, then you can start
the retirement by selecting the field 'Asset retirement' in the revenue
account screen. For a retirement without revenue, choose in the
Asset Accounting menu -> "Postings" -> "Ast. Ret. by scrapping".

Error message extract from SAP system. Copyright SAP SE.

AA354 - Details

• The SAP error message AA354 ("Posting retirement only possible via revenue account") typically occurs in the Asset Accounting (FI-AA) module when you attempt to retire an asset without specifying a revenue account. This error is related to the way asset retirements are processed in SAP, particularly when it comes to the financial implications of retiring an asset.
  
  Cause:
  
  Missing Revenue Account: The system requires a revenue account to be specified for the retirement posting. This is necessary because retiring an asset can result in a gain or loss, which needs to be recorded in the financial statements.
  
  Configuration Issues: The asset master record may not be properly configured to allow for the retirement posting. This includes settings related to the asset class and the associated accounts.
  Transaction Type: The transaction type used for the retirement may not be set up to allow for the posting of revenue accounts.
  
  
  Solution:
  
  
  Check Asset Master Record:
  
  Go to the asset