Report cannot be executed using report date &1

What causes this issue?

You tried to start the asset history report using report date &V1&.
However, the report can only be executed with a report date that is the
end of a fiscal year.

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?

Start the report again using a valid date. For the requested year, this
date is &V2&.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.