To eliminate the message, make sure there is a Fiscal Year set up which includes the date of the transaction you are entering.
 
  1. Go to Financials > Fiscal Years.
  2. If the transaction date does not exist in a fiscal year already set up, click Add Previous or Add Next to set up a new fiscal year.
  3. Enter a name for the fiscal year.
  4. Enter a description.
  5. Select the number of periods for the fiscal year.
  6. Click Auto-complete if your periods are broken down into a simple month format OR fill in the end dates of each period.
  7. Click Save.
OR
  1. If a fiscal year covers the transaction date that you are entering, select that row and click Edit.
  2. Unmark the Closed checkbox for the period that your transaction falls into.
  3. Click Save.