Customizing of general valuation class for product type &1 missing

What causes this issue?

The necessary Customizing settings have not been made.

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?

To make the missing Customizing settings, navigate to <LS>Financial
Supply Chain Management -> Treasury and Risk Management -> Transaction
Manager -> General Settings -> Hedge Accounting for Positions ->
Settings for Automated Designation of Exposure Items (FX Risk) -> Assign
General Valuation Class to Product Type</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.