Although a "disallow posting to closed period" could be used in some companies, I question its practical value.

Payables invoices are entered with their actual date so the aging and due dates are correct. Checks are entered with their actual dates so the bank account information is maintained correctly.

However, when the GL period is closed, any prior period transactions are not posted but moved to a separate batch, so the controller can chose how to post them. When financials have been published or sent to the bank, then these transactions would be recognized in the current period rather than the closed one. Since the payables aged transactions report would also have been done already and reconciled to the AP account in GL, the fact that these are dated earlier would have no impact.

They will impact the AP before the end of the current period and will impact the GL for the current period.

On the other hand, I would not like to see transactions assigned other dates in order to move them to other periods. I think this has the potential to create havoc with the books, and would raise many questions during an audit.