Cost element type &1 cannot be posted on cost centers

What causes this issue?

You made an account assignment to a cost element of type &V1&.

System Response

This type of cost element cannot be used with cost centers.

How to fix this error?

Do not assign this cost element to a cost center. Alternatively:
Check whether you posted the correct cost element to the correct
account
Check whether the cost element type was set correctly by using the
master data transaction for Cost Center Accounting
This message is sent as a caution for purchasing or procurement orders.
You can make the message an error message by changing the message type
in Customizing. Use the Implementation Guide under "Controlling:
General" and choose <DS:SIMG.SIMG_CFMENUORK3OBA5>Change message
control</>. Enter area KI and message number 169.

Error message extract from SAP system. Copyright SAP SE.