Start Date for Type Still Pending

We are trying to do an investment purchase. When we select the investment type, we are getting an error "Start date for type XXX is still pending"

This error is caused when you attempt to effective date an investment purchase back beyond when the Start date is configured for the investment type. To correct, view the Start date in Investment Type and Rate Maintenance. If the start date for this investment type is after the effective date that you are trying to use, you will see this error.