How To Fix ACC_AA353 - No standard settings for asset class &1 in company code &2

SAP Error Message - Details

• Message type: E = Error

• Message class: ACC_AA - Message Class for Function Group ACC_AA

• Message number: 353

• Message text: No standard settings for asset class &1 in company code &2

What causes this issue?

<ZH>No</> standard settings found for asset class &V1& in company code
&V2&.

System Response

Processing is terminated

How to fix this error?

Define the company code-specific settings for the asset class in
Customizing for <LS>Asset Accounting</> under <DS:SIMG.FAA_ACLS_CMP_DC>
Specify Company Code-Dependent Settings for Asset Class</>.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message ACC_AA353 - No standard settings for asset class &1 in company code &2 ?

  The SAP error message ACC_AA353 indicates that there are no standard settings defined for a specific asset class in a particular company code. This error typically arises when you attempt to perform an operation related to asset accounting, such as creating or posting an asset, and the system cannot find the necessary configuration for the specified asset class.
  Cause:
  
  Missing Configuration: The asset class specified in the error message has not been configured in the system for the given company code.
  Incorrect Asset Class: The asset class being used may not be valid or may not exist in the system.
  Company Code Settings: The company code may not have the necessary settings for the asset class, which could include depreciation areas, account determination, or other related configurations.
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check Asset Class 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)
  
  Check if the asset class exists and is properly configured for the specified company code.
  
  
  
  Define Standard Settings for Asset Class:
  
  Navigate to the following path:
  Accounting -> Financial Accounting -> Asset Accounting -> Integration -> Define Asset Classes
  
  Ensure that the asset class is defined and has the necessary settings for the company code in question.
  
  
  
  Check Company Code Settings:
  
  Go to:
  Accounting -> Financial Accounting -> Asset Accounting -> Integration -> Define Company Code
  
  Verify that the company code is set up correctly and that it includes the asset class in its configuration.
  
  
  
  Review Depreciation Areas:
  
  Ensure that the depreciation areas are correctly assigned to the asset class and that they are active for the company code.
  
  
  
  Consult Documentation: If you are unsure about the settings, refer to SAP documentation or consult with your SAP functional consultant for guidance on how to configure asset classes and company codes properly.
  
  
  Testing: After making the necessary changes, test the transaction again to ensure that the error has been resolved.
  
  
  Related Information:
  
  Transaction Codes: You may find it helpful to use transaction codes such as OAOA (for asset class configuration) and OAYZ (for company code settings) to navigate directly to the relevant configuration screens.
  SAP Notes: Check SAP Notes for any known issues or additional guidance related to this error message.
  User Authorization: Ensure that you have the necessary authorizations to make changes to asset accounting settings.
  
  By following these steps, you should be able to resolve the ACC_AA353 error and ensure that the asset class is properly configured for the specified company code.