How To Fix AC064 - No depreciation key with time-dependent period control is defined.

SAP Error Message - Details

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 064

• Message text: No depreciation key with time-dependent period control is defined.

What causes this issue?

Depreciation area &V1& in the selected company code &V2& contains no
depreciation keys specified for year-dependent period control.

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?

Choose a different company code, or activate time-dependent period
control in appropriate depreciation keys in chart of depreciation &V1&.
In order to do this, set the corresponding indicator in the definition
of the depreciation keys.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AC064 - No depreciation key with time-dependent period control is defined. ?

  The SAP error message AC064, which states "No depreciation key with time-dependent period control is defined," typically occurs in the Asset Accounting (FI-AA) module when there is an issue with the configuration of depreciation keys for fixed assets. This error indicates that the system cannot find a valid depreciation key that is set up to handle time-dependent period control for the asset in question.
  Cause:
  
  Missing Depreciation Key: The depreciation key assigned to the asset does not exist or is not configured correctly in the system.
  Time-Dependent Control: The depreciation key may not be set up to handle time-dependent depreciation, which is necessary for assets that have varying depreciation rates or methods over time.
  Asset Master Data: The asset master record may not have the correct depreciation key assigned, or it may be incorrectly configured.
  
  Solution:
  
  
  Check Depreciation Key Configuration:
  
  Go to the transaction code OADB (or navigate through the menu: SPRO > Financial Accounting > Asset Accounting > Depreciation > Define Depreciation Keys).
  Verify that the depreciation key used for the asset is defined and has the correct settings for time-dependent period control.
  
  
  
  Create or Modify Depreciation Key:
  
  If the depreciation key does not exist, create a new one with the appropriate settings.
  If it exists but is not configured for time-dependent control, modify it to include the necessary settings.
  
  
  
  Review Asset Master Data:
  
  Use transaction code AS02 to display the asset master record.
  Check the assigned depreciation key and ensure it is correct and corresponds to the configuration in OADB.
  
  
  
  Check for Time-Dependent Settings:
  
  Ensure that the depreciation key is set up to allow for time-dependent depreciation if that is required for the asset.
  
  
  
  Consult Documentation: If you are unsure about the settings, refer to SAP documentation or consult with your SAP FI-AA consultant for guidance on the correct configuration.
  
  
  Related Information:
  
  Depreciation Keys: These are used to determine how an asset's value is depreciated over time. They can be configured to handle various methods of depreciation (e.g., straight-line, declining balance).
  Time-Dependent Depreciation: This allows for changes in the depreciation method or rate over the life of the asset, which is useful for assets that may have different useful lives or rates due to changes in usage or regulations.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as AS01 (Create Asset), AS02 (Change Asset), and AS03 (Display Asset) for managing asset master data.
  
  By following these steps, you should be able to resolve the AC064 error and ensure that your asset accounting is functioning correctly.