Effects of Approving a Journal after posting period set on the transaction record is closed.

1. When a Journal Pending Approval is approved after the posting period set on the transaction is closed, the system will automatically post the transaction to the nearest open period available.

2. The posting period value on the Journal will change to the nearest open period.

3. The Journal will also affect the amounts reported when using Period Reporting and Date Reporting as determined by the setting under Home > Set Preferences > Analytics tab > Reporting section > Report by Period Drop Down field. The reason is even though the Posting Period value in the transaction record changes, the transaction date does not.