Initial status is missing

What causes this issue?

The system did not find a status that is marked as the initial status
in Customizing for the <LS>Scope of Application</>. For this reason, it
was not able to assign an initial status to the new scope of
application.

How to fix this error?

INCLUDE NA_SYSVERW OBJECT DOKU ID TX

Procedure for System Administrators

RESET N1
Depending on the object type being processed, check the settings in one
of the following IMG activities:
<DS:SIMG.RMS_VRA_60>Specify Status Attributes for Formulas</>
<DS:SIMG.RMS_VRA_70>Specify Status Attributes for Recipes</>
Mark one of the statuses as the initial status.

Error message extract from SAP system. Copyright SAP SE.