Annual inventory procedure not allowed for storage type &

What causes this issue?

You attempted to select storage bins for annual inventory in storage
type &V1&. Inventory methods are defined separately for each storage
type. <GL:annual_inventory>Annual inventory</> has not been defined for
storage type &V1&.

How to fix this error?

Select another inventory method for this storage type.
IF &[SWITCH]S4H_DOCU_ON_PREMISE& = 'X'.


Procedure for System Administrator
If you want to select storage bins for annual inventory in storage type
&V1&, you must define that inventory method in the Customizing
application. The indicator for the annual inventory method is <LS>st
</>.
<DS:TRAN.OML4>Proceed</>
ENDIF.

Error message extract from SAP system. Copyright SAP SE.