Project is beyond extension date error in Budget Transfers and Amendments

After entering an account in Budget Transfers and Amendments, an error shows: Project is beyond the extension date and can not be used at this time.

Budget Transfers and  Amendments

Effective date on the journal is after the extension date on the project in Project Master.

The extension date in Project Master needs to be changed to a date after the effective date on the journal.

Financials> General Ledger> Project Accounting> Project Ledger> Projects/Inquiry> Project Master

1. Click Search and enter Project

2. Accept

3. Click Update

4. Change the Extension date to a date that is after the effective date on the journal.

5. Accept

6. Re-open Budget Transfers and Amendments to reflect the change.