Cost Accrual Extension

Hi

We are writing billing extension for Cost Accrual.

As per std functionality;

1) We can accrue the cost along with Revenue recognition when project in 'Active' status. whereas the payable cost, labor cost etc stays in WIP A/C

2) When we change status from 'Active' to 'Pending Close'; it make other transactions (events) for cost accrual, contra and WIP etc.

My question here; Is it possible to use any other user defined 'Project status' instead of 'Pending Close' in this extn?

The reason to ask this; we have some scenarios where some cost (e.g. supplier invoices) may incur even after project is 'Pending Closed'