Insurance tab in asset master

[Former Member]

What does the manual update field on the insurance tab in the asset master used for? When I tried to close the year in asset accounting, if that field is not ticked, it is giving an error. I was planning to run a CATT to tick that field for all the assets and also make it a required field. Let me know if that going to give us any issue in future.

Thanks

[Former Member · Accepted solution]

The insurance tab needs to be updated yearly. The value of the asset for insurance purposes changes. You can either manually change the insurable value or use an index.

[Former Member · Accepted solution]

In tcode oav5, we have maintained the index series from year 2004 to 2008. Do we have to maintain the index series for years before 2004.

Thanks

[Former Member · Accepted solution]

Test it and see. The system should tell you if you need prior year data.