Error: 'No costing centre could be found for the journal line for nominal code (x)'

When updating assets to the Nominals, If you're getting error 'No costing centre could be found for the journal line for nominal code (x).' please ensure that the Asset has a Project and a Cost Centre against it within the Assets, Settings tab.
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Alternatively, you would need to turn off the Compulsory Costing option within the nominal. You can do this by navigating to Financials, Accounts and unticking the Compulsory Costing option within the details tab.