How To Fix AY007 - Asset class & not defined for AuC. Please correct.

SAP Error Message - Details

• Message type: E = Error

• Message class: AY - Deprec. simulation - maint. module (AIPS) /gen. master data

• Message number: 007

• Message text: Asset class & not defined for AuC. Please correct.

What causes this issue?

Asset class &V1& is defined for handling assets under
construction with open item management.
You cannot use this class for depreciation simulation.

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?

Select a different asset class.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message AY007 - Asset class & not defined for AuC. Please correct. ?

  The SAP error message AY007 indicates that the asset class you are trying to use is not defined for Assets under Construction (AuC). This typically occurs when you are attempting to capitalize costs related to an asset that is still under construction, but the system does not recognize the asset class as valid for this purpose.
  Cause:
  
  Asset Class Configuration: The asset class you are using may not be configured to allow for Assets under Construction. This can happen if the asset class settings do not include AuC as a valid category.
  Missing Customization: The necessary customization for the asset class to handle AuC transactions may not have been set up in the system.
  Incorrect Asset Class: You may be using an incorrect asset class that is not intended for AuC.
  
  Solution:
  To resolve the AY007 error, you can follow these steps:
  
  
  Check Asset Class Configuration:
  
  Go to the transaction code OAOA (or navigate through the SAP menu: Accounting > Asset Accounting > Master Data > Asset Class > Define Asset Class).
  Verify that the asset class you are using is set up to allow for AuC. Look for settings related to "Assets under Construction" and ensure they are correctly configured.
  
  
  
  Modify Asset Class Settings:
  
  If the asset class is not configured for AuC, you will need to modify its settings. You can do this by selecting the asset class and adjusting the parameters to include AuC.
  Ensure that the "AuC" checkbox is selected if available.
  
  
  
  Use the Correct Asset Class:
  
  If the asset class you are using is not intended for AuC, consider using a different asset class that is specifically designed for Assets under Construction.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or consult with your SAP support team for specific guidelines on configuring asset classes for AuC.
  
  
  
  Testing:
  
  After making the necessary changes, perform a test transaction to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as OAOA (Define Asset Class), OAYZ (Define Asset Under Construction), and OABW (Asset Accounting: Change Asset).
  SAP Notes: Check SAP Notes for any known issues or additional guidance related to the AY007 error.
  User Roles: Ensure that you have the necessary permissions to make changes to asset class configurations.
  
  If you continue to experience issues after following these steps, it may be beneficial to reach out to your SAP support team or a consultant with expertise in Asset Accounting for further assistance.