Profit center group & cannot be used here

What causes this issue?

The profit center group <(>&<)> is not assigned to the standard
hierarchy.

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?

Please check your entry. If required, select another profit center group
or assign the profit center group <(>&<)> to the standard hierarchy
using transaction <DS:TRAN.KCH5N>Change Profit Center Standard Hierarchy
</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.