R12 - Difference between Draft, Final, etc in Create Accounting

Part -I: Online Accounting: (For single entity)

DRAFT will create Journal Entries, which are NOT final, which means they are NOT ready to be
transferred to GL.

You can see the accounting in XLA_AE_HEADERS and XLA_AE_LINES.

XLA_AE_HEADERS.accounting_entry_status_code is 'D'
XLA_EVENTS.process_status_code is 'D'
XLA_EVENTS.event_status_code is 'U'

You can run create accounting on this transaction again and again, which will delete the old journal
entries and create new ones.
You can't transfer these journal entries to GL.
FINAL will create journal entries, which can be transferred to GL.

You can see the accounting in XLA_AE_HEADERS and XLA_AE_LINES.

XLA_AE_HEADERS.accounting_entry_status_code is 'F'
XLA_EVENTS.process_status_code is 'P'
XLA_EVENTS.event_status_code is 'P'

Once it is finally accounted you can NOT run create accounting on the particular transaction
(specifically on that event).
You can transfer them to GL using Transfer Journal Entries to GL program.
FINAL POST will create journal entries in Final Mode, Transfer them to GL and Post them.
You can see the accounting in XLA_AE_HEADERS and XLA_AE_LINES.
XLA_AE_HEADERS.accounting_entry_status_code is 'F'
XLA_EVENTS.process_status_code is 'P'
XLA_EVENTS.event_status_code is 'P'

Once it is finally accounted you can NOT run create accounting on the particular transaction
(specifically on that event).
It will transfer the journal entries to GL using Journal Import and you can find the data in
GL_JE_HEADERS and GL_JE_LINES.
XLA_AE_HEADERS.transfer_status_code is Y.
It will post to gl_balances also (GL_JE_HEADERS.status is 'P').

Part -II: Create Accounting (Concurrent Program): (For more entities)

1. Accounting Mode: Draft

It is same as Draft online accounting.

2. Accounting Mode: Final, Transfer to GL: No

It is same as Final online accounting.

3. Accounting Mode: Final, Transfer to GL: Yes, Post to GL: No

It will create journal entries in Final mode, transfer them to GL.

You can see the accounting in XLA_AE_HEADERS and XLA_AE_LINES.
Once it is finally accounted you can NOT run create accounting on the particular transaction
(specifically on that event).
 XLA_AE_HEADERS.accounting_entry_status_code is 'F'
XLA_EVENTS.process_status_code is 'P'
XLA_EVENTS.event_status_code is 'P'

It will transfer the journal entries to GL using Journal Import and you can find the data in
GL_JE_HEADERS and GL_JE_LINES.
XLA_AE_HEADERS.transfer_status_code is 'Y'
GL_JE_HEADERS.status is 'U'.

4. Accounting Mode: Final, Transfer to GL: Yes, Post to GL: Yes

It is same as Final Post online accounting.