Company code &1 is not assigned to ledger &2 (ledger group &3)

What causes this issue?

In the Customizing for <LS>Multiple Accounting Principles in Controlling
(COGM)</>, you are using ledger group &V3& for company code &V1&.
However<(>,<)> ledger &V2& of ledger group &V3& is not assigned to this
company code.

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

System Response

How to fix this error?

Please check the following Customizing activities:
<DS:SIMG.V_FCML_MLCO_COFI>Set Up Integration with G/L for Multiple
Accounting Principles in Controlling (COGM)</>
<DS:SIMG.FINSVC_LEDGER>Define Settings for Ledgers and Currency Types</>
<DS:SIMG.VC_FAGL_LDGRPMAP_DC>Define Ledger Group</>

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.