Examples of Ledger Sets

When you use multiple ledgers, you can group all types of ledgers in a ledger set.

For example, group primary ledger, secondary ledgers, and reporting currencies (journal and subledger levels) as long as they share the same chart of accounts, calendar and period type.

Ledger sets are used to manage ledgers, including:

• Opening and closing of periods.

• Running reports and processes for multiple ledgers simultaneously.

• Supporting adjustments and allocations.

Regulation Requirements Example

You have 26 registered companies in Vision Corporation. The regulations require that each company is to maintain a separate ledger. All companies share the same chart of accounts and calendar.

You set up a ledger for each company and group them into a ledger set. You can then use the ledger set to perform all accounting activities, while the data remains partition for reporting purpose for each company.

Multiple Countries Example

You have a parent company in one country. You operations in five other countries. Each country has its own legal entity and must report to both the parent company and the local government. All legal entities use the same chart of accounts and calendar. Currency is different and Reporting Currency ledgers have been created. You can group all of the primary and reporting currencies ledgers into one Ledger Set. You can then perform all accounting activities as though you had one worldwide ledger.