One of the customer didn't updated the Budget Period Statuses since our initial implementation

We want to know what the impact would be if update these statuses to match the GL period status.

What is the list of testing that we need to do before closing.

Our hope is that if we can close old periods, that payment void activity will no longer back date to the original issue date and instead go to the most recently opened period, like it does in GL. This would prevent the GL and budgetary control from being out of sync.