What do different account statuses mean in Chart of Accounts Maintenance (GL0018)?

General Ledger -> Chart of Accounts Maintenance (GL0018)

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Statuses Defined:

Valid – An account that will receive normal accounting transactions such as cash receipt, etc.
Not Valid – An account that will not have accounting transactions posted to it. Non valid accounts will not appear on most reports.
Not Valid Date - The date you put in is when that account will become not valid. If you leave it blank then the status will remain as it is.
Inactive – When you generate a new account, set the acount as inactive - this will allow budget prep without any other transactions being posted to this account. They may or may not appear on some reports.
System Controlled – These accounts are used by the system. They are updated by the system but are inaccessible to the user. An example of this type of account is the “Expense Control Account” which is used by the system to generate a portion of the changes in the fund balance for the year.
Budget Control - This account is set to use Budget Rollup. If Budget Rollup is used you can include in the accounts that roll up any account(s) with Status Budget Control and the only activity that can be posted to these accounts are Budget Transactions. You cannot post Requisitions, Purchase Order's, or Debit and Credit transactions to accounts with a status of Budget Control.