The selected period has no prior period specified message when creating Reconciliations

Summary:

The selected period has no prior period specified message when creating Reconciliations.
When creating Reconciliations in Production and Test, I get the following message, "The selected period has no prior period, therefore no beginning balances and transactions will be carried forward. Are you sure you want to continue?". When creating Reconciliations in previous months, I did not get this message. Creating Reconciliations for August is the first time I have received this message. What does this mean if I continue?

Content (please ensure you mask any confidential information):

This is occurring in both Production and Test environments.

Version (include the version you are using, if applicable):