diff --git a/trytond/CHANGELOG b/trytond/CHANGELOG
index 2f03a11256..12d5f13aa8 100644
--- a/trytond/CHANGELOG
+++ b/trytond/CHANGELOG
@@ -1,3 +1,4 @@
+* Allow date formating in sequences substitutions
 * Make ModelSQL based on table query read only by default
 * Add email validation tools
 * Remove overlapping indexes
diff --git a/trytond/trytond/ir/sequence.py b/trytond/trytond/ir/sequence.py
index 7130909acb..03e364255a 100644
--- a/trytond/trytond/ir/sequence.py
+++ b/trytond/trytond/ir/sequence.py
@@ -60,8 +60,12 @@ class Sequence(DeactivableMixin, ModelSQL, ModelView):
             'readonly': Eval('id', -1) >= 0,
             },
         depends=['id'])
-    prefix = fields.Char('Prefix', strip='leading')
-    suffix = fields.Char('Suffix', strip='trailing')
+    prefix = fields.Char('Prefix', strip='leading',
+        help="The current date can be used formatted using strftime format "
+             "suffixed with underscores: i.e: ${date_Y}")
+    suffix = fields.Char('Suffix', strip='trailing',
+        help="The current date can be used formatted using strftime format "
+             "suffixed with underscores: i.e: ${date_Y}")
     type = fields.Selection([
         ('incremental', 'Incremental'),
         ('decimal timestamp', 'Decimal Timestamp'),
@@ -319,11 +323,14 @@ class Sequence(DeactivableMixin, ModelSQL, ModelView):
 
     @classmethod
     def _process(cls, string, date=None):
-        return Template(string or '').substitute(
-            **cls._get_substitutions(date))
+        if not string:
+            return ''
+
+        substitutions = cls._get_substitutions(date)
+        return Template(string or '').safe_substitute(substitutions)
 
     @classmethod
-    def _get_substitutions(cls, date):
+    def _get_substitutions(cls, date=None):
         '''
         Returns a dictionary with the keys and values of the substitutions
         available to format the sequence
@@ -332,11 +339,39 @@ class Sequence(DeactivableMixin, ModelSQL, ModelView):
         Date = pool.get('ir.date')
         if not date:
             date = Date.today()
-        return {
-            'year': date.strftime('%Y'),
-            'month': date.strftime('%m'),
-            'day': date.strftime('%d'),
-            }
+
+        class CustomFormatter(dict):
+
+            def __getitem__(self, name):
+                try:
+                    value = super().__getitem__(name)
+                except KeyError:
+                    value = cls._convert_substitution_key(self, name)
+                return value
+
+        return CustomFormatter({
+            'date': date,
+            })
+
+    @classmethod
+    def _convert_substitution_key(cls, substitutions, key):
+        """
+        Converts a substitution key into a different (i.e: formated) value
+        Returns the updated value
+        """
+        # Compatibilty with previous keywords
+        key = {
+            'year': 'date_Y',
+            'month': 'date_m',
+            'day': 'date_d',
+            }.get(key, key)
+        if key.startswith('date_'):
+            format_ = key[len('date'):].replace('_', '%')
+            value = substitutions['date'].strftime(format_)
+            if value == format_:
+                raise ValueError(
+                    f"Unknown substitution format {format_}")
+            return value
 
     @staticmethod
     def _timestamp(sequence):
diff --git a/trytond/trytond/ir/view/sequence_form.xml b/trytond/trytond/ir/view/sequence_form.xml
index 4dabddd7fd..4bb404e69f 100644
--- a/trytond/trytond/ir/view/sequence_form.xml
+++ b/trytond/trytond/ir/view/sequence_form.xml
@@ -30,12 +30,4 @@ this repository contains the full copyright notices and license terms. -->
         <label name="last_timestamp"/>
         <field name="last_timestamp"/>
     </group>
-    <separator string="Legend (Placeholders for prefix, suffix)" colspan="4"
-        id="legend"/>
-    <label string="Year:" id="label_year"/>
-    <label string="${year}" colspan="3" xalign="0.0" xexpand="1" id="year"/>
-    <label string="Month:" id="label_month"/>
-    <label string="${month}" colspan="3" xalign="0.0" xexpand="1" id="month"/>
-    <label string="Day:" id="label_day"/>
-    <label string="${day}" colspan="3" xalign="0.0" xexpand="1" id="day"/>
 </form>
diff --git a/trytond/trytond/tests/test_ir.py b/trytond/trytond/tests/test_ir.py
index 239555f6c4..ed03294ad5 100644
--- a/trytond/trytond/tests/test_ir.py
+++ b/trytond/trytond/tests/test_ir.py
@@ -13,6 +13,7 @@ except ImportError:
 from dateutil.relativedelta import relativedelta
 
 from trytond.config import config
+from trytond.ir.exceptions import SequenceAffixError
 from trytond.ir.lang import _replace
 from trytond.pool import Pool
 from trytond.pyson import Eval, If, PYSONEncoder
@@ -118,6 +119,51 @@ class IrTestCase(ModuleTestCase):
         with Transaction().set_context(date=next_year):
             self.assertEqual(sequence.get(), '%s3' % str(next_year.year))
 
+    @with_transaction()
+    def test_sequence_format(self):
+        'Test Sequence Format'
+        pool = Pool()
+        Sequence = pool.get('ir.sequence')
+        SequenceType = pool.get('ir.sequence.type')
+        try:
+            Group = pool.get('res.group')
+            groups = Group.search([])
+        except KeyError:
+            groups = []
+
+        sequence_type = SequenceType(name='Test', groups=groups)
+        sequence_type.save()
+        sequence = Sequence(name='Test Sequence', sequence_type=sequence_type)
+        sequence.save()
+        sequence.prefix = '${date_y}-'
+        sequence.save()
+
+        today = datetime.date(2023, 1, 1)
+
+        with Transaction().set_context(date=today):
+            self.assertEqual(sequence.get(), '23-1')
+
+    @with_transaction()
+    def test_sequence_wrong_format(self):
+        'Test Sequence Wrong Format'
+        pool = Pool()
+        Sequence = pool.get('ir.sequence')
+        SequenceType = pool.get('ir.sequence.type')
+        try:
+            Group = pool.get('res.group')
+            groups = Group.search([])
+        except KeyError:
+            groups = []
+
+        sequence_type = SequenceType(name='Test', groups=groups)
+        sequence_type.save()
+        sequence = Sequence(name='Test Sequence', sequence_type=sequence_type)
+        sequence.save()
+
+        with self.assertRaises(SequenceAffixError):
+            sequence.prefix = '${date_K}'
+            sequence.save()
+
     @with_transaction()
     def test_global_search(self):
         'Test Global Search'