How to Open Period in Projects?

It looks simple to open period in Projects. But I am not sure about the exact steps.
I observed the below...
when I opened GL Period, it automatically opens PA period. Is that the way the module behaves?
What is the use of 'Copy from GL' button and 'Set Reporting Period'.
What is the exact procedure to open PA period ?
I can see that the status field is greyed out in Maintain PA period statuses. Please advise.
Thanks

There are two periods in PA, one is GL Period and other is PA period
you can decide whether to manitain common periods between GL and PA ( It is a check box in Projects Implementation options)
Incase you set it as common, then whatever calendar is defined in GL will appear in GL period form and also in PA period window
Copy from GL button in PA period form resembles to copy the periods defined in the GL to PA period ( for example: the GL calendar is defined say till end of 2013, you have copied to PA period, so PA period also has till end of 2013) after a while GL team adds the calendar periods for 2014, when you click on copy from GL, then copies remaning periods that weren't copied earlier
Check box Reporting period is something which you set to make sure all your Project status Inquiry details, reporting details are considered
for example: you have set March 2013, then when you run PRC: update project summary amounts then updates all the project details till the period of March-2013
Thanks
Krishna

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