Dunning notices are not yet defined for company code &

What causes this issue?

You have specified a dunning area for company code &V1&. If you want to
create dunning notices for this company code per dunning area, you must
also specify the parameters for the company code when configuring the
dunning program.

How to fix this error?

When configuring the dunning program, set the parameters for company
code &V1&. You find this under the menu option Environment -> Company
code data.

Error message extract from SAP system. Copyright SAP SE.