Account '&2' could not be found for area &3

What causes this issue?

The system could <ZH>not</> find account '&V2&' for company code &V1& in
depreciation area &V3& when creating the journal entry.

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?

Check whether a G/L account is defined in the account determination of
Asset Accounting (in Customizing for <LS>Asset Accounting</>, for
example under <DS:SIMG.ORFA_HAUPT_KONT.0D898E4FE4626657E10000000A428C91>
Assign G/L Accounts</> or under
<DS:SIMG.V_T030_LDT_DC.0D898E4FE4626657E10000000A428C91>Define
Offsetting Account for Legacy Data Transfer</>).
Check whether the defined G/L account is created in your company code.
Define a G/L account or create the G/L account in your company code.

Error message extract from SAP system. Copyright SAP SE.