Planned date for phys. inventory is earlier than today's date

What causes this issue?

You have entered a planned count date that is earlier than today's
date.
The year in which the <GL:physical_inventory_document>physical
inventory document</> is generated depends on the planned count date.
You should make sure that it is possible to carry out a complete
physical inventory during the relevant period.


&SYSTEM RESPONSE&
INCLUDE MB_NA_T160M

How to fix this error?

You can only process a physical inventory document for the previous
fiscal year completely if you are now in the first period of the
current fiscal year.
If you have entered a planned count date that is earlier
than today's date but is in the current fiscal year, you can carry out
a physical inventory, but the posting period will then be determined by
the first count.
Physical inventory documents cannot be created for coming fiscal years.

Error message extract from SAP system. Copyright SAP SE.