Create account &1 for &3 as a cost element in controlling area &2

What causes this issue?

Account &V1& is a profit and loss statement account. You have posted to
this account and to a cost accounting object (e.g. cost center, order
or project).

System Response

In this case, account &V1& must exist as a cost element at posting date
&V3& in the controlling area &V2& determined.

How to fix this error?

Create the account &V1& as a cost element and carry out the posting
again or
Delete the account assignment to cost accounting objects.

Error message extract from SAP system. Copyright SAP SE.