More than 16 periods are only possible in non-leading ledgers

What causes this issue?

The defined fiscal year variant has &V1& posting periods and &V2&
special periods, thus a total of &V3& periods.
However, only 16 periods are possible for the transaction figures
of financial accounting. In the extended general ledger on the other
hand, up to 365 periods can be defined.

System Response

The system points out to you that you cannot use this fiscal year
variant for the standard ledger 00 in which the transaction figures
are managed.

How to fix this error?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.