Financial period statuses

Financial periods can have these statuses:

• Open
  You can enter transactions for this period.
• Closed
  The period is closed, but you can still change the period status to Open to create some final transactions in the period.
• Finally Closed
  The period has been closed through the Close Periods (tfgld1206m000) session. You cannot enter any transactions anymore for the period. The Finally Closed status can be assigned to a period only if the previous periods have the Finally Closed status. You cannot change the status of a period that has the Finally Closed status.