Is it possible to do weekly closes in New GL?

We are doing requirements for our SAP implementation and would like to know if it is possible to do weekly closes in New GL.  If this is possible what is involved?
Thanks.

Hi,
In closing there are many things which are associated, first of all you have to maintained your Fiscal Year variants on weakly basis and number of your posting period should crossponds to the number of weeks in ur fiscal year.  This will effect over all functionality of the your company code. So be careful to take any decision. But with extended of new GL functionality its possible to have posting periods on weekly basis. Then you can perform your closing activities on weekly basis.
Regards
Javed

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