Different Statuses Of An Accounting Period?

1.	Different Statuses Of An Accounting Period?
Answer» NEVER OPENED: Cannot enter or post journals. FUTURE ENTERABLE: Enter journal, but cannot post. The number of future enterable periods is a fixed number defined in the SET of books window. The number of future enterable period can be CHANGED at any time. OPEN: Enter and port journals to any open period. An unlimited number of periods can be open, but doing so MAY slow the posting process and can CONFUSE users entering journals. CLOSED: Cannot post journals in a closed period. Must reopen closed periods before posting journals. Should manually close periods after finishing month/quarter/year-end processing. PERMANENTLY CLOSED: Permanently closed periods cannot be reopened. This status is required to Archive and Purge data.

Answer»

NEVER OPENED: Cannot enter or post journals.
FUTURE ENTERABLE: Enter journal, but cannot post. The number of future enterable periods is a fixed number defined in the SET of books window. The number of future enterable period can be CHANGED at any time.
OPEN: Enter and port journals to any open period. An unlimited number of periods can be open, but doing so MAY slow the posting process and can CONFUSE users entering journals.
CLOSED: Cannot post journals in a closed period. Must reopen closed periods before posting journals. Should manually close periods after finishing month/quarter/year-end processing.
PERMANENTLY CLOSED: Permanently closed periods cannot be reopened. This status is required to Archive and Purge data.

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