How To Fix CRM_LEAS_DATE_CHECKS007 - Minimum lease term is not &1 &2% of normal useful life

SAP Error Message - Details

• Message type: E = Error

• Message class: CRM_LEAS_DATE_CHECKS - Check of Date Types

• Message number: 007

• Message text: Minimum lease term is not &1 &2% of normal useful life

What causes this issue?

Based on your system settings, the minimum lease term has to be &V1&
&V2& percent of the normal the useful life. This is not the case with
the parameters you selected. For determining the minimum lease term,
the system is influenced by early termination options.

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?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message CRM_LEAS_DATE_CHECKS007 - Minimum lease term is not &1 &2% of normal useful life ?

  The SAP error message CRM_LEAS_DATE_CHECKS007 indicates that the minimum lease term specified in the lease contract does not meet the required percentage of the normal useful life of the asset. This is a validation check to ensure that the lease term is appropriate relative to the asset's useful life.
  Cause:
  
  Incorrect Lease Term: The lease term entered in the contract is shorter than the minimum required duration based on the asset's useful life.
  Asset Useful Life Configuration: The useful life of the asset may not be correctly configured in the system, leading to incorrect calculations for the minimum lease term.
  Percentage Configuration: The percentage used to calculate the minimum lease term may not be set correctly in the system settings.
  
  Solution:
  
  Review Lease Term: Check the lease term entered in the contract. Ensure that it meets the minimum requirement of being at least the specified percentage of the asset's useful life.
  Check Asset Configuration: Verify the useful life settings for the asset in question. You can do this by navigating to the asset master data and checking the useful life parameters.
  Adjust Percentage Settings: If necessary, review the configuration settings for the minimum lease term percentage. This can typically be found in the customizing settings for leasing in SAP.
  Consult Documentation: Refer to SAP documentation or help resources for specific details on how to configure lease terms and useful life settings.
  Seek Help from SAP Support: If the issue persists, consider reaching out to SAP support or your internal SAP team for further assistance.
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like AS01 (Create Asset), AS02 (Change Asset), or AS03 (Display Asset) to check asset details.
  Configuration Path: The configuration for lease terms and useful life can typically be found under the following path in the SAP IMG: 
  
  Financial Accounting (New) > Asset Accounting > Master Data > Define Asset Classes.
  
  
  Documentation: SAP Help Portal and SAP Notes can provide additional insights and troubleshooting steps related to this error message.
  
  By following these steps, you should be able to resolve the error and ensure that your lease contracts comply with the necessary requirements.