Year & is not supported for controlling area &

What causes this issue?

No control parameters have been defined for fiscal year &V1& in
controlling area &V2&.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

See that the control parameters are maintained for fiscal year &V1&, or
Correct your typing error.

Error message extract from SAP system. Copyright SAP SE.