Year of cash effectivity is mandatory for budget category &1

What causes this issue?

For this budget category, the year of cash effectivity has not been
maintained.

System Response

Processing stops.

How to fix this error?

Please specify the required year(s) of cash effectivity for this budget
category.
Alternatively, go to the IMG activity
<DS:SIMG._ISPSFM_N_V_FMBUDCAT>Choose Budget Category</> and select a
budget category for which no year(s) of cash effectivity has been
defined.

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.