3310895 - Error Message: Account Assignment to Cost Center PQR only Allowed for Account Type Costs/Expenses. G/L Account 123 cannot be used

When you try to post a Journal Entry Voucher with a reference to a Sales Order and a Cost center the system throws an error message.
Account assignment to cost center PQR only allowed for account type Costs/Expenses. G/L Account 123 cannot be used. 

(Here PQR is Cost center id and 123 is G/L account number)

SAP Business ByDesign

Account assignment, cost, expense, JEV, cost center , KBA , AP-ACC , Business ByDesign: Financial Accounting , SRD-FIN-GL , General Ledger , Problem