Do not assign to cost center (not active in CO area & and FYear & )

What causes this issue?

You assigned an account to a cost center. However, no cost centers are
active for controlling area &V1& in fiscal year &V2&.

System Response

This posting is not allowed.

How to fix this error?

Activate Cost Center Accounting for fiscal year &V2& using CO
configuration.

Error message extract from SAP system. Copyright SAP SE.