How To Fix FAA_MD037 - Asset &1-&2 already exists in company code &3

FAA_MD037 - Overview

• Message type: E = Error

• Message class: FAA_MD - Fixed Asset Master

• Message number: 037

• Message text: Asset &1-&2 already exists in company code &3

What causes this issue?

Asset &V1&-&V2& already exists in company code &V3&. This can have one
of the following reasons:
You are creating an asset with an external number. But the external
number is being used by an existing asset.
You have just switched from external number assignment to internal
number assignment. But the next internal number is being used by an
existing asset.
Someone else is creating an asset with the same asset number in draft
mode. But that asset has <ZH>not</> been created in the database yet.

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?

Depending on the root cause, you should proceed as follows.
If you are creating an asset with an external number that has already
been used by an existing asset, please choose a different external
number.
If you have just switched from external number assignment to internal
number assignment, the issue cannot be bypassed. You must <ZH>not</>
make such a switch if you have already created assets with this number
range.
If someone else is creating an asset now with the same asset number in
draft mode, please align with the other creator on who shall discard the
draft asset.

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 FAA_MD037 - Asset &1-&2 already exists in company code &3 ?

  The SAP error message FAA_MD037 indicates that there is an attempt to create or modify an asset in the Asset Accounting (FI-AA) module, but the asset already exists in the specified company code. This error typically arises when there is a duplicate asset number being used.
  
  Cause:
  
  Duplicate Asset Number: The asset you are trying to create or modify already exists in the system with the same asset number in the specified company code.
  Incorrect Data Entry: There may have been a mistake in entering the asset number or company code.
  Data Migration Issues: If assets were migrated from another system, there may be duplicates due to improper data handling.
  
  Configuration Issues: The asset number range may not be set up correctly, leading to conflicts.
  
  
  Solution:
  
  
  Check Existing Assets: 
  
  Use transaction code AS03 (Display Asset) to check if the asset already exists in the specified company code. Enter the asset number and company code to verify.
  
  
  
  Use a