Commitment item &1/&2/&3/&4 does not exist

What causes this issue?

Commitment item &V4& does not exist in FM area &V1&, fiscal year &V2&,
and variant &V3&.

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?

Check your entries.

Error message extract from SAP system. Copyright SAP SE.