Polycom IP 501 cannot make outbound calls

This phone registers, and can receive inbound calls just fine. But if I try to call an outside number, or another extension from it, it gives and an error message that says "your call cannot be completed as dialed, please check the number and try again"

Seems like I remember there was some setting to setup how it knows when you are done dialing, so it knows when to actually dial the extension.