FrontAccounting forum — Cannot close fiscal year

Re: Cannot close fiscal year

2012-02-23T08:56:51Z

@ awdyck:

I have the same problem. Could you please tell me, what are the corrections for GL accounts?

barney

Re: Cannot close fiscal year

2012-02-21T05:22:55Z

how so?

Re: Cannot close fiscal year

2012-01-02T03:14:12Z

Figured it out. Had some of the GL accounts set incorrectly.

Cannot close fiscal year

2012-01-02T00:42:35Z

I'm a newbie with fa and am trying to close a fiscal year but I keep getting the error message The Retained Earnings Account should be a Balance Account or the Profit and Loss Year Account should be an Expense Account (preferred the last one in the Expense Class). I have the Retained earnings as Equity and the Profit/Loss is at the end of my expenses. What am I doing wrong?