Profit center &/& does not exist for &

What causes this issue?

The desired profit center &V2& is not in the master data table for the
specified date.

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?

Check your entry.
Note: The profit center is usually derived from the original account
assignment object (cost center, order, and so on) or other information
(such as the material number).
If necessary, create the desired profit center for the appropriate
time frame.

Error message extract from SAP system. Copyright SAP SE.