Hello Govind
You cannot automatically close the accounting period, but the process control takes care of your requirement. In order to post a document into accounting, the following two conditions should be met.
1. Period should be open.
2. Process Control should be not blocked and the Entry Possible Until should be the current or future date.
For e.g. If you have opened the October period , then based on the additional entry days(by default 15 days ) the process control entry will be created with the entry possible until as 15 November.
Now you try to post any documents after 15 Nov, system will not allow. You need to manually add the process control to allow the document to be posted.
You can Set Additional Entry Days in the General Ledger- Companies-Actions-Set Additional Entry Days.
Hope this helps.
Thanks
Parveen Kumar