How To Fix AC703 - Takeover postings not allowed (company code no longer in status '1')

SAP Error Message - Details

• Message type: E = Error

• Message class: AC - Error messages from Asset Customizing

• Message number: 703

• Message text: Takeover postings not allowed (company code no longer in status '1')

What causes this issue?

Takeover postings are only allowed as long as the company code is
in old assets data takeover status.

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?

If necessary, reset the status of the company code.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AC703 - Takeover postings not allowed (company code no longer in status '1') ?

  The SAP error message AC703, which states "Takeover postings not allowed (company code no longer in status '1')," typically occurs in the context of asset accounting when you attempt to perform a takeover posting for an asset in a company code that is not in the correct status for such transactions.
  Cause:
  
  Company Code Status: The company code associated with the asset is not in the status '1', which indicates that it is not active for asset accounting. This can happen if the company code has been deactivated or if it has been set to a status that does not allow for asset postings.
  Configuration Issues: There may be configuration settings in the asset accounting module that prevent takeover postings for certain company codes.
  Period Closing: The fiscal year or period may be closed, preventing any postings from being made.
  
  Solution:
  
  
  Check Company Code Status:
  
  Go to the transaction code OBY6 (or use the menu path: SPRO > Financial Accounting > General Settings > Company Code > Edit Company Code Data).
  Verify the status of the company code. It should be set to '1' (active) for asset accounting.
  
  
  
  Activate Company Code:
  
  If the company code is not active, you may need to activate it. This typically requires appropriate authorizations and may involve coordination with your SAP system administrator.
  
  
  
  Review Configuration:
  
  Check the configuration settings in the asset accounting module to ensure that takeover postings are allowed for the relevant company code.
  
  
  
  Check Fiscal Year/Period:
  
  Ensure that the fiscal year and posting periods are open. You can check this in transaction code OB52 (or use the menu path: SPRO > Financial Accounting > Financial Accounting Global Settings > Document > Open and Close Posting Periods).
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for any specific configurations or settings that may be affecting the ability to perform takeover postings.
  
  
  
  Related Information:
  
  Transaction Codes:
  
  OBY6: To check and edit company code data.
  OB52: To check and manage posting periods.
  
  
  SAP Notes: Search for relevant SAP Notes in the SAP Support Portal that may address specific issues related to error AC703.
  User Authorizations: Ensure that the user has the necessary authorizations to perform asset accounting transactions.
  
  If the issue persists after checking the above points, it may be beneficial to engage with your SAP support team or consult with an SAP expert for further troubleshooting.