3515104 - Profit Center Allocation Cycle is not compatible with postings via Primary/Secondary Cost Elements

There's error message "Invalid value for fields 'account number'" raised in app 'Manage allocations'.
Only GL accounts of type N (Non-operating expenses or Income) and X (Balance Sheet Accounts) are supported in Profit Center Allocation Cycle.
Profit center context in Universal Allocation is not compatible with postings via Primary/Secondary Cost Elements.

SAP S/4HANA Cloud Public Edition 

Profit center context in Universal Allocation is not compatible with postings via Primary/Secondary Cost Elements.
This is because of general setup of Universal Journal, where every cost element posting requires posting with Cost Object.
In case of Profit Center Allocation, posting on Cost object does not take place, therefore you can only allocate via GL accounts of type N (Non-operating expenses or Income) and X (Balance Sheet Accounts).
For posting via Cost elements, only Cost center or Margin Analysis allocation contexts can be used.

There is specific case for overhead allocation type in Profit Center context, if sender rule Posted Amounts is used.
In that case, in sender tab, P or S cost element account can be used.
However, this is only for proper calculation of amount (balance) to be posted in run.
Processing (posting) in that case takes always place via overhead allocation account (N or X for profit center context) and P or S accounts are only used for sender balance calculation. 

This is a standard behavior.

Allocation Contexts

Invalid value for fields 'account number', Primary/Secondary Cost Elements, Manage Allocations, Profit center, Profit Center Allocation Cycle, run allocations. , KBA , CO-OM-CCA-F-2CL , Period-end Closing (Public Cloud) , Problem