Data in custom field KONV-&1 no longer exists in PRCD_ELEMENTS

What causes this issue?

Data has been found in the custom field KONV-&V1& but the field does not
exist in PRCD_ELEMENTS.

System Response

Data processing will continue without migrating KONV-&V1& to
PRCD_ELEMENTS. However, the data in field KONV-&V1& will be lost.

How to fix this error?

If you want to keep data in the field KONV-&V1&, you will first need to
restore the data from your backups, then:
1. Add a customer append field named &V1& to table PRCD_ELEMENTS that
exactly matches the field of the same name in table KONV. For example,
with the same data element, data type, length, decimal places and short
description.
2. Create a report to migrate field KONV-&V1& to PRCD_ELEMENTS.
3. Run the report above.
If the data in KONV-&V1& is not needed and you don't want to migrate it,
no action is required.

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.