Allowed posting periods: & for company code & and date &

What causes this issue?

The posting date entered does not lie within one of the allowed posting
periods.
IF &[SWITCH]S4H_DOCU_ON_PREMISE& = 'X'.
Possibly, the correct current period is not configured in the system:
The first of the specified periods is the current period for the system.
At the start of a new period, the system administrator has to use the
function "Close periods" to change the current period in the material
master. This has not yet happened. You have entered an incorrect date in
the field "Posting date".

How to fix this error?

Check the posting date and correct it if necessary. If your entry is
correct, inform your system administrator that the period closing
program has not yet been run.
ENDIF.

Error message extract from SAP system. Copyright SAP SE.