Object type & is not planned according to Customizing

What causes this issue?

You have entered object type &v1& (&v2&). This object type is either
not entered in Customizing for CO line item archiving or has been
marked as not to be archived.

System Response

The system does not allow this entry since nothing would be archived
anyway.

How to fix this error?

Check your entry. If need be, select another object type using F4.
Check the settings for CO line item archiving. Make entries suitable
for object type &v1&.

Error message extract from SAP system. Copyright SAP SE.