3301066 - AA613 Period determination is not possible on date &2 for period control &1 S/4HANA CLOUD

Creating asset master data results in AA613 - Period determination is not possible on date &2 for period control &1

SAP S/4HANA Cloud

Creating asset master data prompts the error. 

The customer is using fiscal year variant SZ and has not fully completed the customizing. 
See SAP Help Guide which also contains link to SAP Activate Roadmap Viewer  

Review and complete the fiscal year variant. 

We recommend that you involve an experienced Finance consultant to prepare definition of period controls and period control methods, which is relevant for depreciation in Asset Accounting and required for your customer-specific FYV definition, and that you start this exercise as early as possible.

KBA , FI-AA-AA-A , Master Data , FI-AA-AA-A-2CL , Master Data (Public Cloud) , Problem