Balancing field "&1" in line item &2 not filled -> long text

What causes this issue?

An account assignment to cost center &V3& was made for line item &V2&. A
profit center could not be derived for cost center &V3&.

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?

Assign a profit center to the cost center &V3&.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.