What is deference & Importance "TECO" and "Project closing "

Dear Friends,
Friends please explain what is deference & Importance u201CTECOu201D and u201CProject closing u201C
I have created a project I have assigned the Engineers(personal No) under WBS element u2013 Internal Activity u2013 and I have book the time sheet against Network No., Activity No, and activity type to the personal no, with reference to time sheet I am doing the Resource Related Billing.
Here my doubt is after preparing the RRB request (Debit memo request) if do u201CTECOu201D If I do the invoice is system is allow me to do that, if it is allowing me is this revenues booking against the WBS element. While doing the post incoming Payments is system accepting to do these postings.
Regards,
Hari

Hi,
checkout this link:
http://help.sap.com/saphelp_47x200/helpdata/en/a9/8a853488601e33e10000009b38f83b/frameset.htm
(Status Management)
checkout this link:this will help u.
http://www.sap-img.com/project/project-status-set-to-teco.htm
When the status is TECO it allows you to post or transfer actual costs(actual posting) but does not allow additional commitments.
When the status is CLSD it does not allow to post or transfer actual costs and additional commitments.
Regards,
Shruti.

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What is deference & Importance "TECO" and "Project closing "

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