No company code is assigned to the control area &

What causes this issue?

In the table of company codes, the company codes are allocated to a
control area. No company code is allocated to the control area &V1&.
This way, the control area &V1& cannot yet be used productively since a
posting cannot result in an update of credit-relevant data.
Also, company code-specific data such as dunning data, payment data and
payment history data cannot be displayed here since no company code
belongs to control area &V1&.

Error message extract from SAP system. Copyright SAP SE.