Ledger group missing in accounting principle &2 (company code &1)

What causes this issue?

In the Customizing settings for <LS>Multiple Accounting Principles in
Controlling (COGM)</> for company code &V1& and accounting principle
&V2&, the ledger group determination is set to <LS>Accounting Principle
FI</>. However, the accounting principle is not assigned to a ledger
group.

System Response

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

How to fix this error?

Check Customizing activity
<DS:SIMG.V_FCML_MLCO_COFI>Set Up Integration with G/L for Multiple
Accounting Principles in Controlling (COGM) of Goods Manufactured</> or
Customizing activity
<DS:SIMG.FAGL_PARA_TRG_LDG_DC>Assign Accounting Principle to Ledger
Groups</>.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.