We're based on the different fiscal year setup, as am trying to change and edit the fiscal year, but updating the fiscal year is appearing with an error

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*** My current setting.

Previous data has been deleted, current fiscal year showing is 01/01/2011     12/31/2011     Closed: Yes

*** Desired:

Year Starting Should be: 01 July 2012
Year Ending Should be: 30 June, 2013

Please Advice how to resolve that issue.