FrontAccounting forum — Cannot close fiscal year

Re: Cannot close fiscal year

null@example.com (barneyfa) — Thu, 23 Feb 2012 08:56:51 +0000

@ awdyck:

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

barney

Re: Cannot close fiscal year

null@example.com (labanjohnson) — Tue, 21 Feb 2012 05:22:55 +0000

how so?

Re: Cannot close fiscal year

null@example.com (awdyck) — Mon, 02 Jan 2012 03:14:12 +0000

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

Cannot close fiscal year

null@example.com (awdyck) — Mon, 02 Jan 2012 00:42:35 +0000

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?