Company & is not assigned to any CO area

What causes this issue?

An order must be assigned to a company, as well as to a controlling
area. If you enter only one of these, the system tries to determine
the other from your input.

System Response

Company &v1& is not assigned to any controlling area.

How to fix this error?

Assign company &v1& to a <DS:TRAN.OKKA>controlling area</>, or select a
different company.

Error message extract from SAP system. Copyright SAP SE.