Warning in Journal Sequencing Program

 Hi

When we are closing the STAT GL Period from STAT GL Manager Responsibility then we are getting the below error :-

Submission Parameters
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Set Of Books: IT_2230_LOCAL_SOB
Period Name: P1-2012
Mode: SEQUENCE

Setup Parameters
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Calendar name: BT IT CALENDAR
Sequencing Category Name: IT_2230_LOCAL_SOB
Fiscal Segment Value Low: 2230
Fiscal Segment Value High: 2230


Execution Details
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Period P1-2011 is open.
Renumbering stops because periods prior to P1-2012 are not closed and correctly renumbered.
End of processing.

We have closed all the periods of year 2012 before closing the 2011 periods. So, will now be there any Journal Sequencing problem ?