Company code & is not defined

What causes this issue?

You want to create company code &V1& by copying. This company code is
not defined in your system.
It is required that company code &V1& be defined in Financial
Accounting first, before you can use it for Asset Accounting. Then you
only need to make additional specifications for Asset Accounting.

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?

Check your entry.

Error message extract from SAP system. Copyright SAP SE.