Unable to Transfer to ERP due to error "No Planning Element has assigned to this Item"

Dear Experts,

I am unable to transfer the cost to ERP due to below error "No Planning Element assigned to this item".

I confirm the Financial View and the Portfolio Type configurations are correct.

I have created the PS Project from the item and also in PS the WBS is set to Planning Element. But I suspect in Portfolio Item the PS project number is not appearing (see below)

Also will this transfer possible if I create a cProject first and then transfer it to PS using Account integration, but the planned budget and cost I want to transfer from Item to PS WBS ?

Could you please guide ?

Note: I have gone through this thread Error no planning element assigned to item but not help.

Regards,

AP