Profit Center Accounting active but no profit center specified (CCtr &1)

What causes this issue?

Cost center &v1& was not assigned to a profit center. However, Profit
Center Accounting is active in at least one of the fiscal years in
which the cost center is to be created.

System Response

If you do not assign a profit center, the SAP System transfers the data
from the dummy profit center defined in configuration for the
respective controlling area to Profit Center Accounting.

Error message extract from SAP system. Copyright SAP SE.