How To Fix FAA_CFG_PARALLEL_VAL003 - No leading area found in chart of depreciation &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FAA_CFG_PARALLEL_VAL - Messages for BF FIN_AA_PARALLEL_VAL

• Message number: 003

• Message text: No leading area found in chart of depreciation &1

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FAA_CFG_PARALLEL_VAL003 - No leading area found in chart of depreciation &1 ?

  The SAP error message FAA_CFG_PARALLEL_VAL003 indicates that there is no leading area found in the chart of depreciation specified in the error message. This typically occurs in the context of Asset Accounting (FI-AA) when dealing with parallel valuation.
  Cause:
  
  Missing Leading Area: The error suggests that the chart of depreciation (CoD) you are trying to use does not have a leading area defined. In SAP, a leading area is necessary for the system to determine how to handle asset values for different accounting principles (e.g., local GAAP vs. IFRS).
  Configuration Issues: The configuration for the chart of depreciation may not be set up correctly, or the leading area may not have been assigned properly.
  Incorrect Chart of Depreciation: The chart of depreciation being referenced may not be the correct one for the asset or may not be properly linked to the company code.
  
  Solution:
  
  
  Check Chart of Depreciation Configuration:
  
  Go to the transaction code OAYZ (or navigate through the menu: SPRO > Financial Accounting > Asset Accounting > Valuation > Define Chart of Depreciation).
  Ensure that the chart of depreciation specified in the error message has a leading area defined. The leading area is typically the area that corresponds to the local accounting principles.
  
  
  
  Assign Leading Area:
  
  If the leading area is missing, you can define it by selecting the appropriate chart of depreciation and assigning a leading area (usually area 01 for local GAAP).
  
  
  
  Check Company Code Settings:
  
  Ensure that the company code is correctly assigned to the chart of depreciation and that the settings are consistent with the asset accounting configuration.
  
  
  
  Review Asset Master Data:
  
  Check the asset master data to ensure that it is correctly configured to use the appropriate chart of depreciation and that the leading area is specified.
  
  
  
  Consult Documentation:
  
  If you are unsure about the configuration, refer to SAP documentation or consult with your SAP FI-AA consultant for guidance on setting up the chart of depreciation and leading areas.
  
  
  
  Related Information:
  
  Transaction Codes: 
  
  OAYZ: Define Chart of Depreciation
  AS01: Create Asset
  AS02: Change Asset
  AS03: Display Asset
  
  
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to this error message.
  Parallel Valuation: Understand the concept of parallel valuation in SAP, which allows for different accounting principles to be applied to the same asset.
  
  By following these steps, you should be able to resolve the error and ensure that your asset accounting configuration is set up correctly.