Oracle Cloud Accounting / Reporting Sequence

Accounting Sequence: Accounting Sequences are assigned to GL journals when they are Posted and to Subledger Journals once they complete accounting. Events: Oracle Fusion has provided two standard Sequencing Event and Journal Entry Type combinations. 1. Posting – GL Journal Entry: Application will generate an automated sequence on event Posting i.e. when journal is posted in GL. The number shall be created only for GL journals. 2. Subledger Accounting – Subledger Journal Entry: Application will generate an automated Sequence on the event Accounting i.e. when Subledger Transaction is accounted. The number shall be for all Subledger journals and can be viewed through SLA. Setup and Creation Event: Journal Posting Entry Type: GL Journals Let us take up a user requirement. Say, users would like to sequence journals in General Ledger to avoid gaps due to loss of Journals that are deleted. Accounting sequences created for the event Posting will help us with the same. Let us go through the setups: Step 1 Create the Sequence and Its Version Navigation: Navigator - Setup and Maintenance - All Tasks - Manage Accounting and Reporting Sequences - Create Sequence Enter a Name for the Sequence and its Description. Sequence Version: A sequence version allows to create a mutation of the same sequence definition. Let us take an example where the users would want the sequence generation to begin from 1 for every financial year. One could simply add two versions – Version 1: From Date Jan1 2011 to Dec 31, 2011 Initial Number: 1 Version 2: From Date Jan1 2012 to Dec 31, 2012 Initial Number: 1 This setup would ensure that the first journal created for year 2011 would begin with 1 and similarly, the first journal for the year 2012 would again begin with the number 1. Initial Number: Any number greater than zero. This Number is incremented by one for each accounting entry. Sequencing context basically captures information upon the event entity combination that will fire sequencing along with other details on sorting and assignment. Sequencing Entry Type: A Sequencing Entry Type is the journal transaction for which this particular sequence would get assigned. This could have two values • Subledger Journal Entry • GL Journal Entry. Sequencing Event: A Sequencing Event is the event which would fire Create Reporting Sequence Program to create sequences. E.g. if one chooses the sequencing event as Posting, the Sequences will get assigned the moment a journal is posted. A Sequencing Event can have any of the following values: • GL Period Close: Sequences get created once the respective GL Period is closed. • Posting: Sequences get created once the respective journal is Posted in GL. • Accounting: Sequences get created once the transaction is Accounted. i.e. the Create Accounting Program is run. This Event can be chosen only for the entity Subledger Journal Entry Processing Options: 1. Ledger: Specify the ledger for which the sequence should be generated. 2. Require Assignment for all journals: If you select this option, you must explicitly define valid Sequence Assignments, or Exceptions for all journal entries within a given Sequencing Context. This option is very similar to the profile option Sequential Numbering for traditional document sequences. 3. Sequence validation Date: This is the date format for validating the sequences. When generating a sequence number, this date is used to determine if a sequence is available and the sequence assignment is active. 4. Journal Sorting Date: Optional. Select the sorting option. Step 3: Assign Sequences to Sequencing Context Navigation: Navigator - Setup and Maintenance- All Tasks - Manage Accounting and Reporting Sequences - Tab: Sequencing Assignments Provide the Sequence Name, Start Date, End Date, Journal Source and Category, this Sequence should get assigned to. Accounting Sequences : Creation Accounting Sequences get created once a GL journal gets Posted. Please note that if more than one Journal is posted in the same Posting run, the journals are first sorted on the basis of value provided for the parameter Assign Sequences By and then sequenced accordingly. In the setup example above for sequences on Journal Posting, we had selected them to be sorted on the basis of Accounting Date. If we post two journals on the same posting program, the sequences would get assigned as follows: The journal with earlier accounting date gets sequenced first, followed by others in the same order. If one now posts a journal with an accounting date of Jan 1, this would get an accounting sequencing of 3. This re-emphasizes the fact that only journals in the same posting run are sorted. Refer the following sample screenshot: Step 5. Enable Sequencing by Ledger