Pricing procedure could not be determined

What causes this issue?

No pricing procedure could be determined for the parameters sale
organization &V1&, distribution channel/division &V2&, customer pricing
procedure &V3& and document pricing procedure &V4&.
The entry is missing in Customizing.

System Response

The system cannot implement pricing.

How to fix this error?

Maintain the entry in Customizing.

Procedure for System Administrators

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.