Error message "posting date is initial"

I m getting error while adding material to pre-existing contract - "posting date is initial" (Message no. F5669).
looks like Fiscal year and period cannot be derived.
Please help. what could be the reason for this message
SK

Hi friends,
I didnt do any manual changes. butthe posting period shows "0" value.
I believe the system is not able to determine the posting period because it could not find any posting date.
but not sure why so. because there are 17 materials entered in the same contract some time back.
And now its erroring out.
Note: i m working on 4.7 system

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