No personnel area exists for country grouping &1

What causes this issue?

You have entered country grouping &V1& in the selection screen. No
personnel area exists for this country grouping. Therefore, a currency
changeover is not possible for this country.

System Response

The system is terminating the process. The selection screen is
available for new entries.

How to fix this error?

Correct your entry in the <LS>Country Grouping</> field. Input a
country grouping that has an entry in the <LS>Assignment Personnel Area
- Company Code</> view (V_T500P).
You will find further information about the pay scale or payroll
currency conversion in the documentation of report
<DS:RE.RPUEMU00>RPUEMU00</> or <DS:RE.RPUEMUXX>RPUEMUXX</>.

Error message extract from SAP system. Copyright SAP SE.