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Can Fiscal Periods be closed before a calendar year is closed and before 1099's are run? Our fiscal year-end is 6/30/13 and that fiscal year was closed as a year-end close, but the periods have not be closed yet (7/1/12-6/30/13). Is it ok to close all periods to date (through 12/31/13) in all modules, including Purchasing, if the calendar year is still open and 1099's have NOT been run yet?
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Closing the fiscal periods as you have described is not a problem. It will not interfere with either the year-end close nor the 1099's. You just need to make sure that December of the current year and January of the new year is open (Financial) when you close general ledger.
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