I found the issue 'Fical period 5/5/2016 is not open' when I tried to invoice a purchase order yesterday. I solved it by this post Error - Fiscal period for xx/xx/xxxx is not open.
Above picture is captured from the Internet because I forgot to capture mine ;(
Solution
General ledger -> Setup -> Ledger
Click 'Ledger calendar'.. make sure that the period you're going to process, the period status is set to 'Open'.
Thanks Problem has been resolved
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