How To Fix AA975 - Trans. type & can only be used for legacy assets from prev. years

AA975 - Overview

• Message type: E = Error

• Message class: AA - Messages for Asset Accounting

• Message number: 975

• Message text: Trans. type & can only be used for legacy assets from prev. years

What causes this issue?

Transaction type &V1& is only allowed for assets with a capitalization
date in a closed fiscal year. Capitalization date &V2& is larger or the
same as the first day of current fiscal year &V3&.
Transaction type &V1& transfers values from the past that are then
displayed as cumulative values as of the beginning of the fiscal year.

System Response

Transaction type &V1& is not allowed.

How to fix this error?

Only use transaction types for the current fiscal year when
transferring your transactions.
You can only use legacy data transfer transaction types to transfer the
cumulative acquisition costs and down payments for the line item
settlement of an asset under construction.

Error message extract from SAP system. Copyright SAP SE.

AA975 - Details

• The SAP error message AA975 indicates that a specific transaction type is restricted to legacy assets from previous years. This typically occurs in the Asset Accounting (FI-AA) module when trying to post transactions that are not allowed for the current fiscal year or for certain asset types.
  
  Cause:
  
  Transaction Type Restrictions: The transaction type you are trying to use is configured to only allow postings for legacy assets, which are assets that were carried over from previous fiscal years.
  Fiscal Year Settings: The fiscal year settings in the system may restrict certain transactions to only be applicable to assets that were created or recognized in prior years.
  Asset Class Configuration: The asset class associated with the asset may have specific settings that limit the types of transactions that can be performed.
  
  
  Solution:
  
  
  Check Transaction Type Configuration:
  
  Go to the configuration settings for the transaction type in the Asset Accounting module (Transaction code: OAOA).
  Verify if the transaction type