Ledger &2 uses valution view &3, but company code &1 not used in CO

What causes this issue?

A valuation view is assigned to Ledger &V2&. Company code &V1& is not
assigned to a controlling area and thus cannot use any valuation view.

System Response

Error.

How to fix this error?

If you want to define your ledger as a specific valuation view, all
company codes in the ledger must be assigned to a controlling area.
If you do not want to use a valuation view, remove the valuation view
from the ledger.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.