Define costing variant for &1 in Customizing

What causes this issue?

When you try to transfer data to SAP ERP, the system displays an error
if does not have costing variants defined in Customizing.

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?

Provide costing variants in Customizing for SAP Commercial Project
Management -> Project Cost and Revenue Planning -> Transfer to ERP ->
Make Settings for Transfer Methods.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.