Fiscal Year Close

We close our fiscal year in June. I would like to know if there are any issues with the following process:

• Close June period after all transactions are processed and posted;
• Open July period (belonging to the new fiscal year) for normal transaction processing;
• Reopen the June period if there are any further year-end adjustments;
• Run the Fiscal Year Close after all year end entries are processed in the Jun Period.

I would prefer to do this rather than run the Fiscal Close process too soon and find out that we  have year-end adjustments that need to be processed.