Validity of allocation is incorrect; profile is valid from &1 to &2

What causes this issue?

The validity of the allocation is outside the validity of the profile
entered.

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 your entries.
Correct the allocation.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.