Fiscal Year - Status change from "Closed" to "Open"

Hi All,

Is it possible to change the Period status from "Closed" to "Open"  with period code "Opening" (Start 1.4.2014 - End 1.4.2014) and post opening balances.

The new fiscal year was created from 1.4.2014 to 31.3.2015. Transactions are posted for April and May 2014. We were supposed to post opening balances from legacy system to this company as on 31.3.2014. 

Please suggest how to proceed.

Any valuable suggestion much appreciated. Thanks in advance.

Warm Regards

Siddu