Hi Irene,
We need to close posting period in MM module to allow posting in new posting period. However, if there are still some transactions need to be posted for the just closed period, we allow posting for closed period as well.
However, we can allow postings only for one previous period in MM. We can't post to earlier posting periods.
After all the transactions get posted in initial days of new posting period, we can close previous posting period in FI. Automatically system will not allow posting for MM transactions that has financial implication.
Hope this helps
Cheers,
Som
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