Periods for fiscal year variant & are incorrect

What causes this issue?

The system wanted to read the material consumption quantities for a
particular period split. However, you have specified a fiscal year
variant with period splits that have been incorrectly configured.

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?

Check and correct the period settings in Customizing.
IF &DEVICE&='SCREEN'
<DS:TRAN.OB29>Proceed</>
ENDIF

Error message extract from SAP system. Copyright SAP SE.