How To Fix AU118 - Base insurable value cannot be recalculated in company code &

AU118 - Overview

• Message type: E = Error

• Message class: AU - FI-AA utility program error messages

• Message number: 118

• Message text: Base insurable value cannot be recalculated in company code &

What causes this issue?

No base insurable value can be recalculated for company code &V1&,
because:
The company code does not use the revaluation method
Fiscal year &V2& is not the last fiscal year closed for the base
depreciation areas.

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?

Check your entries. Base insurable values can only be recalculated for
the last fiscal year closed, without reopening the fiscal year.

Error message extract from SAP system. Copyright SAP SE.

AU118 - Details

• The SAP error message AU118, which states "Base insurable value cannot be recalculated in company code &," typically occurs in the context of Asset Accounting (FI-AA) when there is an issue with the calculation of the base insurable value for an asset in a specific company code. This error can arise due to various reasons, including configuration issues, missing data, or inconsistencies in asset master data.
  Causes:
  
  Missing Configuration: The company code may not be properly configured for asset accounting, leading to issues in recalculating values.
  Incorrect Asset Master Data: The asset master record may have missing or incorrect information, such as the base value or insurance details.
  Inconsistent Data: There may be inconsistencies in the asset's historical data or transactions that prevent recalculation.
  Authorization Issues: The user may not have the necessary authorizations to perform the recalculation.
  System Settings: Certain system settings or parameters may not allow for recalculation under specific conditions.
  
  Solutions:
  
  Check Configuration: Ensure that