No Customizing data for valuation area &1 found

What causes this issue?

The Customizing data for sending material prices to valuation area &v1&
was not found.

System Response

No price changes were made

How to fix this error?

Edit the Customizing data for valuation area &v1& under <ZK>Materials
Management</> -> <ZK>Valuation and Account Assignment</> -> <ZK>Set Up
Sending Material Prices</>

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.