Value &1 for the year of cash effectivity not permitted by BCS budgeting

What causes this issue?

The value &V1& of the year of cash effectivity, as assigned by the FM
update profile to a commitment/actual data record, is not permitted by
BCS budgeting. Although the year of cash effectivity is active for
budget category &V2& in FM area &V3&, the Customizing settings of BCS
budgeting define that the minimum value allowed in this case for the
year of cash effectivity is &V4&. However, this value is greater than
the value &V1& assigned by the FM update profile.

System Response

Processing of the commitment/actual data record stops.

How to fix this error?

Change the definition of permitted values of the year of cash
effectivity for budget category &V2& and FM area &V3& in the IMG
activity <DS:SIMG._ISPSFM_N_V_FMBUDCAT>Choose Budget Category</>.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.