How To Fix AC692 - Company code &1 does not have default values

SAP Error Message - Details

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 692

• Message text: Company code &1 does not have default values

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message AC692 - Company code &1 does not have default values ?

  The SAP error message AC692 indicates that the specified company code does not have default values set for certain asset accounting parameters. This can occur when you are trying to create or manage asset master records, and the system requires default values that have not been configured for the specified company code.
  Cause:
  
  Missing Default Values: The company code in question does not have default values defined for asset accounting. This can include settings related to asset classes, depreciation areas, or other asset-related parameters.
  Configuration Issues: The configuration for the asset accounting module may not have been completed for the company code.
  Data Entry Errors: There may be a mistake in the company code entered, leading to the system not finding the expected default values.
  
  Solution:
  To resolve the AC692 error, you can follow these steps:
  
  
  Check Company Code Configuration:
  
  Go to the SAP Easy Access screen and navigate to the following path:
  Accounting -> Financial Accounting -> Asset Accounting -> Master Data -> Asset -> Create (or Change)
  
  Ensure that the company code is correctly entered and exists in the system.
  
  
  
  Set Default Values:
  
  Navigate to the configuration settings for Asset Accounting:
  SPRO -> SAP Reference IMG -> Financial Accounting -> Asset Accounting -> Master Data -> Define Default Values for Asset Classes
  
  Here, you can define the default values for the asset classes relevant to your company code.
  
  
  
  Check Asset Classes:
  
  Ensure that the asset classes you are trying to use are properly configured and linked to the company code. You can check this in the same configuration area.
  
  
  
  Review Depreciation Areas:
  
  Make sure that the depreciation areas are set up correctly for the company code. This can also be found in the configuration settings under:
  SPRO -> SAP Reference IMG -> Financial Accounting -> Asset Accounting -> Depreciation -> Define Depreciation Areas
  
  
  
  
  Consult Documentation: If you are unsure about the settings, refer to SAP documentation or consult with your SAP functional consultant for guidance on the specific configuration needed for your company code.
  
  
  Testing: After making the necessary changes, try to create or modify the asset master record again to see if the error persists.
  
  
  Related Information:
  
  Transaction Codes: You may find it useful to know relevant transaction codes such as:
  
  AS01: Create Asset
  AS02: Change Asset
  AS03: Display Asset
  
  
  SAP Notes: Check for any SAP Notes related to this error message for additional troubleshooting steps or patches.
  User Roles: Ensure that you have the necessary authorizations to make changes in the asset accounting configuration.
  
  By following these steps, you should be able to resolve the AC692 error and successfully manage asset records for the specified company code.