Document type &1 for periodic APC posting does not exist in co.code &2

What causes this issue?

Document type &V1& does not exist for periodic APC posting in company
code &V2&.

System Response

The document type you entered for posting periodic APC values is not
defined.

How to fix this error?

Correct your entry, or define the document type in Customizing for
Financial Accounting.

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.