No budget type could be selected

What causes this issue?

The specified budget type does not exist or no data is available for the
reference date.

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?

Check OTB Customizing to see the start date for the budget type.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.