To me the main impacts of a Close (as opposed to a Recalculation) are as follows:
(a) No further INVENTORY TRANSACTIONS permitted up to that date. (b) Receipts have permanent links to specific issues. The VALUES in these links can be adjusted. (c) Drill down of Settlements lead to the relationships in (b). The term CLOSE to me implies the same thing as a month-enda close in Accounts Receivable, Accounts Payable, General Ledger - i.e. As in (a), no more Stock TRANSACTIONS may occur in the period. The values of these transactions however can be adjusted with GL impact being in current period. Note that I am not attempting to define how somebody thinks a CLOSE should work, but what it actually does. Having said that I believe it does the right things! George
