Setup Time machine on MAC with mountain Lion

I have got a WD Sharespace, as i tried to setup Time Machine with my MAC. It keeps poping up the message, “Time Machine can’t access the backup disk “WD_Backup”.” I already restore Sharespace back to factory default, but still.

And I have entered the correct user name and passwords.

Anybody encountered same problem or how fix this proble.

Thank you


You can check the steps provided on the link bellow for further assistance: