Financial Year Open: Retained Earning Account Validation
Open period is a feature which allows business to enter/import transactions in their ledger.
This is one of the critical activity for every business at start of each month and year. As, once period is in Open state, Application will allow users to post entered and/or imported transactions which will help business to capture financial details of their day-to-day activities. Click here for the details...
https://blogs.oracle.com/ebs/post/financial-year-open-retained-earning-account-validation