No entries found for List of Values

Greetings Community,

I'm trying to execute the "Receipt Accruals - Period-End" concurrent process but it results in error when selecting the proper parameters as shown as follows:

APP-FND-01436: List of Values cannot find any values for you to choose.

How to define/create periods in order to run the report?

We are using Accrue Expense Items Period End Option, if we run this report we are expetcing to create accounting effect for the defined expense ap accrual account so we can track it using account analysis report. Is this statement correct?

Thanks in advance