This error appears in the following situations :
1) In some Standard templates, there are two columns for Voucher-type in the Excel sheet. viz
Type : To specify the base / pre-defined Voucher type.
VchType : To specify the user defined Voucher type.
A common mistake is to incorrectly specify it as :
Type : North Sales
VchType : North Sales
The correct method is :
Example 1: (Correct method)
Type : Sales
VchType : North Sales
Example 2: (Correct method)
Type : Sales
VchType : Sales
2) The option/setting Create dependent Masters is off/disabled and the specified Voucher type does not exist in Tally.