I am having a problem with consignment settlement.
While trying to settle the consignment in MRKO, I am getting the following error message:

Consignmnt settlement: No message was found for partner 123/company code 1000.

Is there any message indicator which needs to be turned on?

You can goto tcode MRM1, specify the condition type = "KONS" for consignment and Company code = 1000
Remember not to specify the partner in the condition record. Advertisement

Then proceed to MRKO to do your consignment settlement.

I did what you suggested and now I am able to settle the consignment.
I am able to see the invoice document that is created.