Define your receivables calendar in the Accounting Calendar window. Receivables references the statuses of these accounting periods to control transaction entry and journal entry creation to your general ledger. You cannot enter an activity in a closed accounting period.
When you close an accounting period, Receivables automatically generates the Collection Effectiveness Indicators report.
Note: If you are using the Oracle Applications Multiple Reporting Currencies (MRC) feature, open and close accounting periods in your primary set of books. Receivables automatically opens and closes periods in all of the associated reporting sets of books. You cannot close a period if outstanding transactions exist in your primary or associated reporting sets of books. For more information, see: Multiple Reporting Currencies in Oracle Applications.
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.
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.
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.