Cost center &/& exists only before &

What causes this issue?

The cost center to which you assigned the account does not exist for
the required date. The controlling area named in the error message was
determined automatically from the company code (and business area).

System Response

Processing is terminated.

How to fix this error?

Extend the period of validity for the cost center or assign the account
to another cost center, order, or project.

Error message extract from SAP system. Copyright SAP SE.