What is "Adjustment Period" in General Ledger Accounting Calendar and its reporting impacts

What is "Adjustment Period":

When we configure General Ledger module, one of the important setup is Accounting Calendar. In that, there is a functionality called- Adjustment Period or Adjusting Period. An "adjustment period" refers to any accounting period set up to adjust balances prior to the closing period of the year(year-end period).

This period is exclusively available in GL accounting periods and not meant for any subledger transactions or importing journals from any external source. Hence, Adjusting periods apply only to General Ledger. They are not used in Oracle feeder systems, such as Inventory, Payables, Purchasing, and Receivables. Note also that you can only import journals into non-adjusting periods.