No valuation record found for & &

What causes this issue?

The material is subject to <GL:split_valuation>split valuation</> but
the system did not find any valuation records during the automatic
search process.

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?

Terminate your processing.
If you are authorized to do so, define at least one
<GL:valuation_type>valuation type</> for the material. Proceed as
follows:
Choose the menu "Logistics" -> "Material master", function "Material"
-> "Create".
Select the view "Accounting".
Enter a valuation type as organizational level.
Maintain the valuation data for the valuation type.

Error message extract from SAP system. Copyright SAP SE.