Hello,
In the following video, you said that AR Closed period can OPEN again.

Is it possible to open closed period, the basic account rule is you can't open closed period. Is the system allowing you to open AR closed period?

Video 1 - Receivables Period Statuses.
Thanks, Raghu.K

Yes you can open a closed period. GL module offers a status called permanently closed. You cannot reopen a permanently closed period. Once you have published your financial statements to public then it is a big No No to post transactions in those periods. Auditing firms will catch you.

Thanks Hasan, So the permanently closed period only available in GL module not in AR and AP, Is it correct.

Raghu.k

Hi Hasan,
Please, correct me if I am wrong.
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Yes, the Permanently Closed period status is only available in GL, and this for a reason: financial statements are only produced in GL, never in AP, AR or any other module. Therefore, once financial statements have been published, meaning the relevant periods have been permanently closed, you cannot any more open those periods from the front-end. You are also legally forbidden to open a permanently closed period, as the auditors will hook you in the neck!

As for opening a close period in AP and AR, for instance, you can open a closed period again, as long as that closed period accounting entries have not already served in the published financial results in GL. If they have, then entering or modifying data in them would be bad.

Accounts Payable
Never Open
Future
Open
Closed
Accounts Receivables
Not Opened
Furure
Open
Close Pending
Closed

General Ledger
Future Enterable
Open
Closed
Permanently Closed

Nicely put. I agree.