Overview of Accounting and Reporting Sequences
When you record your journals, you can assign unique sequence numbers. Sequence numbering the journals simplifies the task of tracing the journal entries and is a legal requirement in some countries, especially those in Europe, Asia, and Latin America.
Sequencing enables the fiscal authorities to easily verify the completeness of a company's accounting record.
Sequential numbering of journals enables you to:
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Maintain gapless sequence numbers.
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Sequentially number subledger journal entries. Generate a sequence number for journal entries created by subledger accounting before transferring them to general ledger.
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Sequentially number general ledger journal entries.
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Assign sequences within a ledger or legal entity.
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Generate reports based on the sequence numbers.
The two different types of journal sequences used with Oracle Subledger Accounting and Oracle General Ledger journals are:
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Accounting Sequences: Gapless sequence numbering for journals which is assigned when the journals are posted or subledger accounting runs.
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Reporting Sequences: Gapless and chronological sequence numbering which is assigned to journals when the General Ledger period is closed.