No schedule record was found for MRU &1 after &2

What causes this issue?

A future schedule record must available for the meter reading unit
during billing-related order creation. The record can also be a
periodic schedule record.
If no schedule record exists, the allocation date cannot be determined
and billing cannot be carried out.

System Response

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

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.