Credit control area & has not been defined

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

What causes this issue?

Credit control area &V1& is not defined.

System Response

Error message

How to fix this error?

Please check your entry.
Maintain credit control area &V1&, if you have the proper
authorization.
IF &DEVICE& = 'SCREEN'
<DS:SIMG.SIMG_CFMENUSAPCOB45>Proceed</>
ENDIF

Error message extract from SAP system. Copyright SAP SE.