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What is the impact if a PA Period is closed without generating invoices for a contract project?

We are looking to generate only revenue with the following accounting impact in GL:
Dr UBR
  Cr Rev
The AR invoices would be directly interfaced from a third party application to AR and will not be interfaced to projects to AR. 
How would this impact the following:
1. period closing?
2. project closure- change project status to 'Close'?
3. impact GL accounting?
Thanks
Atul

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