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

SAP Error Message - Details

• 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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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 the SAP Easy Access screen and enter the transaction code SPRO to access the Customizing menu.
  
  
  
  Navigate to the Relevant Path:
  
  Follow the path: Financial Accounting (New) -> Asset Accounting -> Valuation -> Balance Sheet Valuation.
  
  
  
  Check Configuration:
  
  Ensure that the balance sheet valuation is activated for the relevant company code and valuation area.
  If it is not activated, you will need to create or modify the settings to activate it.
  
  
  
  Define Valuation Areas:
  
  Make sure that the valuation areas are correctly defined and linked to the company code.
  
  
  
  Review Asset Classes:
  
  Check if the asset classes used in your transactions have the necessary settings for balance sheet valuation.
  
  
  
  Test the Configuration:
  
  After making the necessary changes, test the configuration by executing the transaction again to see if the error persists.
  
  
  
  Related Information:
  
  
  Transaction Codes:
  
  OMWE: This is the transaction code for accessing the balance sheet valuation settings directly.
  AS01, AS02: These are transaction codes for creating and changing asset master records, which may also be relevant if you are working with asset accounting.
  
  
  
  Documentation:
  
  Refer to SAP Help documentation for detailed guidance on asset accounting and balance sheet valuation settings.
  
  
  
  Support:
  
  If you continue to experience issues after checking the configuration, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  
  By following these steps, you should be able to resolve the MY043 error and ensure that balance sheet valuation is correctly configured in your SAP system.