Welcome! You would probably get a better response by posting in one of the subspaces in the community dedicated to E-Business Suite.
There are tips on how to find the correct space on the Getting Started page.
In the Actions menu on the right, you should be able to click on "Move", and then specify the correct space, so experts in that software can see your question.
A moderator here can also move this post for you.
*** Moderator Note: I've moved this to the General EBS Discussions space for now, as that's better than the Oracle Learning Library space which is not really for asking technical questions about EBS. In future, please try and identify the most appropriate technical space for your questions.
You need to close each organization separately and resolve any pending transactions before you move on to the next period.
If you have many organizations then it would help if you set up the organization hierarchy.
What is your exact EBS release?