No active version for version type &1

What causes this issue?

No active version exists for version type &v1&. This version was
processed as follows up until now:
Newly created
Imported and not yet activated

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?

Activate the version type for generating an active version.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.