How To Fix AC588 - Error occurred while determining asset value date

SAP Error Message - Details

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 588

• Message text: Error occurred while determining asset value date

What causes this issue?

The system supplied the following information to the function module
for determining the asset value date: G/L transaction type &v1&,
transaction type &v2& and object type &v3&. The system could not
determine an Asset Accounting transaction based on these parameters.

How to fix this error?

Contact your system administrator. There is probably a program error.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AC588 - Error occurred while determining asset value date ?

  The SAP error message AC588, which states "Error occurred while determining asset value date," typically occurs during asset accounting processes, particularly when trying to post transactions related to fixed assets. This error can arise due to various reasons, including configuration issues, missing data, or incorrect settings in the asset accounting module.
  Causes of AC588 Error
  
  
  Missing or Incorrect Value Date: The system may not be able to determine the value date for the asset due to missing or incorrect configuration in the asset master data.
  
  
  
  Configuration Issues: The asset accounting configuration may not be set up correctly, particularly in relation to the fiscal year variant, depreciation areas, or asset classes.
  
  
  Posting Period Issues: The posting period may be closed or not open for the transaction you are trying to execute.
  
  
  Transaction Type Issues: The transaction type being used may not be configured correctly for the asset accounting process.
  
  
  Data Inconsistencies: There may be inconsistencies in the