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 data related to the asset, such as missing or incorrect entries in the asset master record.
  
  
  Solutions to AC588 Error
  
  
  Check Asset Master Data: Verify that the asset master data is complete and correct. Ensure that the value date is specified and that all required fields are filled out.
  
  
  Review Configuration Settings: Check the configuration settings in the Asset Accounting module. Ensure that the fiscal year variant, depreciation areas, and asset classes are correctly set up.
  
  
  Open Posting Periods: Ensure that the posting period for the transaction is open. You can check this in the transaction code OB52 (Maintain Posting Periods).
  
  
  Validate Transaction Type: Ensure that the transaction type you are using is correctly configured for the asset accounting process. You can check this in the configuration settings for asset accounting.
  
  
  Check for Data Inconsistencies: Run reports to check for any inconsistencies in the asset data. You can use transaction codes like AW01N (Asset Explorer) to review asset details.
  
  
  Consult SAP Notes: Check the SAP Support Portal for any relevant SAP Notes that may address this specific error. There may be patches or updates that resolve known issues.
  
  
  Debugging: If the issue persists, consider debugging the transaction to identify the exact point of failure. This may require assistance from a technical consultant.
  
  
  Related Information
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as AS01 (Create Asset), AS02 (Change Asset), and AW01N (Asset Explorer) for managing asset data.
  SAP Documentation: Refer to SAP Help documentation for Asset Accounting for detailed information on configuration and processes.
  User Forums: Engage with SAP community forums or user groups for insights and solutions from other users who may have encountered similar issues.
  
  If the problem continues after trying the above solutions, it may be beneficial to involve your SAP support team or a consultant with expertise in Asset Accounting.