Netting cycle & & & does not exist

What causes this issue?

Netting Cycle '&V3&' is not defined for Exchange Partner '&V1&' in
Company '&V2&'

System Response

Error message

How to fix this error?

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

Define Netting Cycle '&V3&' for Exchange Partner '&V1&' in company &V2&
by choosing:
<ZK>Logistics -> Exchanges -> Exchange operations -> Netting ->
Financials based netting -> Netting cycle -> Create selection</>

Error message extract from SAP system. Copyright SAP SE.