Earlier versions still exist for generic transaction &1

What causes this issue?

The system cannot archive generic transaction &V1& as earlier versions
still exist for the transaction.

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?

Ensure that the versions of the generic transaction (archiving object
JB_GTVS) are archived before the transaction and, if necessary, reduce
the residence time for the versions.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.