Do not assign to a cost center (no cost accounting in company code &)

What causes this issue?

You assigned an account to a cost center, although cost accounting is
not active in company code &V1&.

System Response

This posting is not allowed.

How to fix this error?

Activate cost accounting for company code &V1& by assigning a
controlling area to this company code.
Alternately, do not assign the account to a cost center.

Error message extract from SAP system. Copyright SAP SE.