Account &1 could not be closed due to incorrect balancing

What causes this issue?

The account could not be closed. For the account closure date there was
either no or an incorrect account balancing.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Execute an account balancing or correct the incorrect account balancing
with the account balancing restart function.

Error message extract from SAP system. Copyright SAP SE.