This error is caused by an incorrect Project code, Cost Centre code or Role code, listed under the users "Bank Holiday Defaults".
To check these:
Log into FocalPoint Administrator.
Browse to System Control, Security Profiles.
Highlight the profile that the affected user is in.
Click Members.
Highlight the affected user in the left hand list.
Click on the Absence tab.
Check the Project, Cost Centre and Role in the Timesheet Bank Holiday Defaults section and make sure they are all valid options, spelt correctly and with no trailing or leading spaces.
Click OK to save.
Once all the values are valid, the error should no longer appear