What does error: "tax year start date needs to be calculated within a 7 day multiple of your first run date" mean, when creating a Weekly or Fortnightly frequency?

This feature is available on all PaySpace editions.
If the first day of the Weekly frequency falls on a Monday, the tax year start date needs to be the Monday closest to 1 March.

For example, if the frequency's start date is Monday, 24 July 2023, the tax year start date should be Monday, 27 February 2023.
Navigate > Configuration > Payroll > Payroll Config > Pay Frequencies