No settlement schema designated as standard

What causes this issue?

The settlement requires a settlement schema that is designated as
standard.

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?

Set the <ZK>Standard</> indicator in
<DS:SIMG.REFXV_TIVSCSEPARAM>Customizing</> for Flexible Real Estate
Management.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.