How To Fix MY043 - Balance sheet valuation not active (Customizing transaction OMWE)

MY043 - Overview

• Message type: E = Error

• Message class: MY - Messages for Balance Sheet Valuation(Low.Val.Det./LIFO/FIFO)

• Message number: 043

• Message text: Balance sheet valuation not active (Customizing transaction OMWE)

Self-Explanatory Message

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To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

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Smart SAP Assistant

• What is the cause and solution for SAP error message MY043 - Balance sheet valuation not active (Customizing transaction OMWE) ?

  The SAP error message MY043, which states "Balance sheet valuation not active," typically occurs when you are trying to execute a transaction that requires balance sheet valuation, but the necessary configuration has not been set up in the system. This error is often encountered in the context of asset accounting or when dealing with financial statements.
  
  Cause:
  The primary cause of this error is that the balance sheet valuation for the relevant company code or area has not been activated in the system. This can happen if:
  
  The configuration for balance sheet valuation has not been completed in the Customizing settings.
  The relevant valuation area is not defined or is inactive.
  The company code or the specific asset class does not have the necessary settings for balance sheet valuation.
  
  
  Solution:
  To resolve the MY043 error, you need to ensure that the balance sheet valuation is properly configured. Here are the steps to do this:
  
  
  Access Customizing Transaction:
  
  Go to