Field status group & not defined in field status variant &

What causes this issue?

No field status variant has been assigned to the current company code
or field status group &v1& has not been defined for field status
variant &v2&.

System Response

System error.

How to fix this error?

Check if you have assigned the field status variant to the company
code. In the Financial Accounting Global Settings Implementation Guide,
select activity "Allocate company code to field status variants".
Check whether field status group &v1& has been defined for field status
variant &v2&. To do this, select activity "Maintain field status
variants" in the Financial Accounting Global Settings Implementation
Guide.

Error message extract from SAP system. Copyright SAP SE.