How to handle error message: "Steps defined for Plans or Resources don’t cover the whole contract period"

Sometimes when you are creating a contract, the following error message will appear:

Contracts can be generated for the purposes of your organization. Each contract covers a set timeframe encompassed by Start Date and End Date. Throughout the duration of the contract, steps can be set - each with a different time period. The Steps are defined with a start date and an end date that are found next to the Steps field.

Rules

• The First Step of a contract must begin with the start date of the contract.
• Each next step has to start on the following day that a step ends.
• The last step has to end on the last day of the contract. Thus the steps will be covering the full duration of the contract.