You enter and account for transactions in open accounting periods. The period statuses available in Payables are Never Opened, Future, Open, Closed, and Permanently Closed. When you first define a period, Payables assigns a status of Never Opened to the period. Payables does not allow transaction processing in a period that has never been opened. After you change the status to Future or Open you cannot change it back to Never Opened.

Your accounts payable periods are separate from your general ledger periods. For example, you can close your Q1 period in Payables before you close your Q1 period in General Ledger. For details on setting up general ledger periods, see: Defining Calendars.

If you use the Reporting Currencies feature, read the Oracle E-Business Suite Multiple Organizations Implementation manual for information on changing a period status when you use Multiple Reporting Currencies.

To change the status of an accounting period

1. In the Control Payables Periods window update the Period Status to one of the following:

   • Future. Payables allows invoice entry and accounting in a Future period. Payables does not allow payment entry or payment voiding in a Future period.

     Payables allows you to limit the number of Future periods based on the number you enter in the Future Periods field in the Financials Options window. After you change the status of a Future period to Open, you cannot change it back to Future.

   • Open. You can record transactions and account for them in an Open period. You cannot open a period if it is an adjusting period. You define adjusting periods using the Define Calendar window. Adjusting periods can have overlapping dates.

   • Closed. Payables does not allow transaction processing in a Closed period. You can reopen a Closed period if the corresponding general ledger and purchasing periods are also Open. You cannot close a period in which any of the following conditions exist:

     • Outstanding payment batches.

     • Future dated payments for which the Maturity Date is within the period but that still have a status of Issued.

     • Unaccounted transactions.

     • Accounted transactions that have not been transferred to general ledger.

     For details on Closing an Accounting Period, see: Closing an Accounting Period.

   • Permanently Closed. Payables does not allow transaction processing in a Permanently Closed period. You cannot reopen a Permanently Closed period.

2. Save your work.