I am getting error message on the KiCad. Not sure what to make sense of this error. Attached the picture.

I tried attaching PWR_FLag but then I get a different error message shown below,

 

Does it work if you don't use the power symbol for VCOM, but instead just use a label like "V_COMMON"?

 

The problem is that the symbol used defines it as an external power input, while it is the device output.
The fault is an incorrect symbol, the only solution is to use a different symbol.
When working with a simulator you must only speak it's language.

 

the problem is that you are using wrong symbol for "VCOM". do not use any of the "power" symbols:

here is an example of using global label.

 

btw. if you do insist on using power symbol there, you would have to add some component between the power symbol and the output, something like zero ohm resistor or jumper...