The management of the financial periods is an administrative task, it is executed at the end of each month after closing, there are three stage for the period status.
During the month where all transactions are executed, the Financial period status is Open
After the ensuing all departments have entered and post their transactions of which relevant to the current month, and the Financial post the month ending adjustment transactions, the Financial period status is Open for specific user group, and modules.
After Financial department post all required adjustments for the current month, the Financial Period Status is On Hold, “formerly known as Stopped in Microsoft Dynamics AX 2009″ , that prevent any entry to be posted in that period, but it could be re-opened after that.
There is another scenario to change Financial Period Status to be Closed, This status could not be re-opened again.
If you try to re-open the period will get the following infolog message: “A closed fiscal period cannot be reopened.”
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