Cant create new vault in Solidworks PDM Admin window

Ive managed to create a Server but when I right click on the server --- select "create new vault" --- it gives the error "Root folder:  Error Description:  Could not connect to the Archive Server."

The additional error is: "Could not initialize archive server connection.  Error Description:  An invalid argument was given to the method."

Although Im new to Solidworks and its PDM, Im pretty sure I need a vault to use it correctly.

SolidworksSolidworks Pdm enterprise Pdm