This error happens due to the accounting period being earlier than the business start date.
Please see video below:
Navigation: My Admin > Clients > Select Client > Edit Client > Business Start Date
To add a previous accounting period change the business start date under my admin panel.
Once this detail is updated you can add update the accounting period.
Congratulations! You've have successfully updated the business start date. If you encounter any issues or require further assistance, don't hesitate to reach out to your account manager.