What's the difference between a closed and close pending accounting period?

To set an accounting period to the Closed status, you must first clear any unposted items. Once an accounting period is closed, journal entry, transaction entry, and posting aren't allowed unless you reopen the accounting period.

The Close Pending status differs from the Closed status in two ways:

• This status doesn't validate for unposted items.

• You can still create journal entries for activity that existed in the accounting period prior to setting it to Close Pending.