Since this is the entity's initial year on Web-GAAP, the first fiscal year needs to be created by ITC personnel.
After entering the year click on 'Add New Fiscal Year' and you will be redirected to the following page:
Click on 'Return to the EditEntites Page'.
You'll be taken back to the Maintain Entities entity selection page. From here you can select the newly added entity by clicking on the pencil icon and then grant users with access to the entity's first fiscal year.