It is possible to close a Contract ( Transaction Completed ) even if the document has Open PO associated with it.
Feature:
This feature prevents the completion of Contract if there is any Open Purchase Order against it. Configurable message will be displayed upon trying to close the Contract which has open Purchase Order. Thus, this feature ensures better compliance of the business process.
Information:
To use the feature, you have to first activate the Business Function SRM_CONT_IMPR_1 and then activate the Customizing switch Check for open PO before Contract Completion (SRM_701_CONT_CLOSE) under SRM Server-> Cross Application Basic Setting-> Service Procurement-> Activate/Deactivate Check for Open Purchase Orders before Contract Complet.
Notes:
2042218: Interface Changes: Check for Open Purchase Order before Contract Completion
2040522: Implementation note: Check for Open Purchase Order before Contract Completion
For complete details about SAP SRM 7.03 refer: SAP SRM 7.03