AS01 Error message "Asset Class is not Entered"

When using the Transaction code AS01, we get an error message stating "Asset class is not Entered" and is not allowing us to use the T.Code but just gives us an option to Exit from the screen.
Because of this behaviour it is not allowing to enter any data in AS01 but only allows us to exit from the screen.
This is happening in ECC 6.0 EHP3 system.
Has anyone come across this kind of behaviour ?
Thanks in advance !
Regards,
Murali Narayanan

Hi Murali
Try transaction code OAAY and check if your class is assigned to depreciation area.
This is the last step before making asset class available for use.
Of course, all other settings have to be maintained properly.
OR
Check the Account determination, Screen Layout, No Ranges and Asset Class Determinations once again. And also check the Chart of Dep assignment to Co.Code.
OR
Please check OAYZ for all depreciation areas to be active.
Rgds
Zub

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