While you cannot re-open a closed membership if it was closed prior to current day, it is possible to create that member a new membership and re-use that account base.  When at the Verify New Membership Creation screen, where you can select to Create membership & Continue (assign next account #), you can use Select Acct # to manually enter an account base.  As long as the account base entered is not an active membership, the new membership will use that account base.