Select one of the following statuses for the period: Open (accounting transactions can be recorded in the period), On hold ...

Select one of the following statuses for the period: Open (accounting transactions can be recorded in the period), On hold (accounting transactions cannot be recorded in the period; you can select this status only if the period currently has a status of Open; you can reopen periods that have a status of On hold), or Closed (accounting transactions cannot be recorded in the period; if a period has a status of Open, you cannot select Closed unless the previous period also has a status of Closed; you cannot reopen a closed period or put it on hold). When a fiscal year is being closed, you can select the Set fiscal year status to closed option in the General ledger parameters page. This sets all periods in a fiscal year to a Closed status. You can also select the Check journalizing option in the General ledger parameters page to verify whether periods are journalized before they are put on hold or closed.
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