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

AY007 - Overview

• 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.

AY007 - Details

• 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: