Project Status Change- Prevent project close for pending transactions.

Hi,

Is it possible to force validation on project closure,i.e., changing the status of project to a status with system status= Closed, such that user is not able to change the project status if any transactions are remaining which have not been treated properly- e.g.: Un- billed expenditure items, Un- earned Revenue, Non Capitalized capital costs etc.

I am asking if the above can be achieved using any feature from the front end itself?

Thank You.

Atul