Explanation/Reference:
Explanation:
status of periods:
Close Pending: Similar to Closed, but does not validate for Unposted items. Journal entry, posting, and transaction entry are not allowed unless the accounting period is reopened.
Note: status of periods continued:
Closed: Journal entry, posting, and transaction entry are not allowed unless the accounting period is reopened. Receivables verifies that there are no unposted items in this period. Receivables does not let you close a period that contains unposted items.
Future: This period is not yet open, but you can enter transactions in this period.
However, you cannot post in this period until you open it. Not Opened: This period has never been opened and journal entry and posting are not allowed.
Open: Journal entry and posting are allowed.
References: https://docs.oracle.com/cd/E18727_01/doc.121/e13522/T355475T355481.htm