Period close statuses
Periods are in context of a ledger and accounting entity:
| Period Status | Description |
|---|---|
| Open | The status of a period that has never been closed. You can enter and post journal entries against the period. |
| Limited Close | The status of a period that is closed for transactions,
but can be reopened for backposting. The Limited
Close action can be applied only to periods in
Open or Backpost
status. All the journal entries that are defined against the period must be posted before you can close it. |
| Backpost | The status of a period that is in Limited Close status but is reopened for backposting. When you have completed the backposting entries, you must close the period again to return it to Limited Close status. |
| Final Close | The status of a period that is permanently closed for transactions. The Final Close action can be applied only to periods in Limited Close status. You cannot apply a Final Close action to an Open or Backpost period. |
The actions that are available depend on the period status:
| Period status | Available actions |
|---|---|
| Open, no unposted transactions | Limited Close |
| Open, some unposted transactions | No actions available if there are unposted transactions.
Select a period with unposted transactions and select to see list of unposted journal entries. |
| Limited | Open For Back Post
Final Close |
| Back Post | Limited Close |