What is Document Sequencing?
Document sequencing is a concept that is used to uniquely number each document generated by an Oracle application. In the General Ledger we can use document sequences to number journal entries upon saving a journal; enabling you to account for each journal entry. This supports the verification of the generally accepted accounting principle of “no posting without a source (support) document”. For VAT & Tax reporting, gapless sequences are required to allow reconciliation and prove completeness and timeliness of reporting. This practice dates back to the beginning of structured accounting in the Italian merchant cities of Venice and Florence and is used in most countries.
GAPS IN YOUR SEQUENCES – BIG AUDIT PROBLEM
Gapless and date sequenced by Legal Entity & tax registration? - unfortunately this is the rule in many countries. This applies to GL Journal sequences, AP Voucher Sequences, AR Invoices & Credit Memos.
SO, WHAT IS THE PROBLEM? WELL, IT’S TECHNICAL …SORRY FOR THAT...
Oracle EBS manages automatic sequences perfectly …. As the pictures below shows
Except each sequence is assigned by Ledger; Not by Legal Company or Tax Registration!!
The Celantra Sequencing Utility augments this functionality with an additional Statutory Legal Sequence number by user defined parameters. Our functionality allows you to group multiple companies or registrations into an efficient single ledger.
Countries that require specific sequences