Combination &1 / &2 is not allowed for status &3, &4

What causes this issue?

You want to use the process/budget type combination &V1& / &V2& for
status &V3&. This budgeting combination is not allowed for &V4&.

System Response

How to fix this error?

Select a process/budget type combination that is allowed for this
status.

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.