Month end read only access for AP

Our customer are having the following issue in Oracle Fusion:

Currently at period end when balancing, the accounts payable team can process invoices which impacts and throws out balancing processes. We would like to understand if we could have a similar scenario as we had in OEBS that on a day when we are balancing, we restrict the access to AP so they can only manage invoices and not create or make any amendments or validate them once balanced access can be restored to full. Please can options be explored around this what may or may not be possible.

Our first question is - is this possible? This was previously a customisation in OEBS.