The error message you received is when the transaction you're trying to create comes before the As of date of the inventory item. Make sure the date you entered in the transactions is after the date you start tracking the quantity on hand of item.
Let's edit the As of date in the inventory item to get rid of the error. Let me show you how:
Go to the Sales menu.
Select Products and Services.
Look for the inventory item and click Edit.
On the Product/Service information page, click the Starting value link.