How can I fix the error that says that the project is enabled for budgetary control but there is no control budget?

When you trigger a funds check, you might get the following error: The project is enabled for budgetary control but there is no control budget.

To fix this error, navigate to the Manage Budget Versions page, create a control budget by setting the budget to baseline, and then trigger the funds check from the respective transaction page. The budget version should be enabled for budgetary control and must be created using a financial plan type that's enabled for budgetary control.