A ledger set is a group of ledgers that share the same chart of accounts and calendar/period type combination. Ledger sets allow you to run processes and reports for multiple ledgers simultaneously.
For example, you can open/close periods for multiple ledgers at once, run recurring journals that update balances for multiple ledgers, or run consolidated financial reports that summarize balances across multiple ledgers in a ledger set.
You can group all types of ledgers in a ledger set, such as primary ledger, secondary ledgers, and reporting currencies (journal and subledger levels), as long as they share the same chart of accounts and calendar/period type combination. The same ledger can belong to multiple ledger sets, and ledger sets can contain other ledger sets.
If using reporting currencies at the journal-level or subledger level, it is recommended that you group reporting currencies with their associated source ledgers in a ledger set. Doing so makes it easier to maintain the same number of open and closed periods for the ledgers and their reporting currencies. It also enables you to view transactions, journals, or balances across ledgers and reporting currencies in a single view.