a couple of suggestions: You can purchase another tool that will reset the airbag light and also has some diagnostic capabilities. I had the same problem and I purchased this one.
Memo Scanner B800 Airbag SRS Scan and Reset Tool for BMW Model Years 1994 2003 | eBay
The most complete complete software package is the following:
BMW USB OBD Diagnostic Cable Inpa Ediabas NCS Expert Dis V57 SSS V32 GT1 Progman | eBay Most here purchase from that vendor. Depending on your patience and technical capability this route can have a fairly long learning curves. For some it starts with getting it loaded and working. Once you get it loaded, clearing errors is quite easy. There are many here that can assist you. For the long haul this package is worthwhile. It does require a Windows based laptop and the total package uses a good deal of hard drive space so make sure you have the requirements.
For the future, regardless of what you do to resolve the current problem, you might want to investigate smart phone apps for checking or watching what is going on the fly. The capability of the app depends on what phone you have.The apps have diagnostic and clearing codes capability. I have the Dashcommand app for the iPhone. I don't know if it will clear the SRS. Haven't used it for clearing codes.