Symptom
Creating an asset results in AC 520 - Depreciation key XXXX is not defined in chart of depreciation XXXX OR AA119 - Depreciation key & not allowed (Check your entry)
Environment
SAP S/4HANA Cloud Public Edition
Reproducing the Issue
When creating an asset using the Manage Fixed Assets, Manage Legacy Assets app or the master data template from the migration cockpit.
Cause
In the SSCUI 4. Specify Valuation Views for Asset Class (102609) for asset class the default depreciation key for accounting principle is set to a depreciation key that is not available for the chart of depreciation.
Resolution
In the SSCUI 4. Specify Valuation Views for Asset Class (102609), for asset class change the default depreciation key for accounting principle to a depreciation key that is available for the chart of depreciation.
Keywords
AA119 , KBA , FI-AA-AA-C , Transactions , FI-AA-AA-C-2CL , Transactions (Public Cloud) , Problem