Oracle EBS R12.2.4 mid year closing journals

All the research I've done seems to indicate that we CAN run a mid year closing journal processes to "close" out an entity mid year. While it says "typically" done to an adjusting period, it does not indicate that we cannot use a regular period. With transactions/mergers we need to "cut off" and roll income mid year but entities will continue on after that.

How To Run the Program

1) Navigate to the Standard Report Submission Window. Navigation = ReportsRequestStandard

2) Select Single Request, then ‘Close Process - Create Income Closing Journals’.

3) Enter the Parameters:

• Period: The latest open period will be defaulted here. Typically, you specify an adjustment period that represents the last day of your fiscal year.