I meant in P&L, is Credit income, and debit expenses.

Hi, I just checked the display_error message, and I think I get what you meant.   
    if (!is_account_balancesheet(get_post('retained_earnings_act')) || is_account_balancesheet(get_post('profit_loss_year_act')))
    {
        display_error(_("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)"));
        return false;
    }
This is something like, enter user id and password, if either 1 is wrong then should display error message "invalid user id or password" or "invalid user id and password"?
of course, is better to split the code to check each error.
if (!is_account_balancesheet(get_post('retained_earnings_act'))
        display_error(_("The Retained Earnings Account should be a Balance Account ))
if (is_account_balancesheet(get_post('profit_loss_year_act'))
               display_error(_("The Retained Earnings Account should be a Balance Account ))

Yes, is Credit income, and debit expenses.

Purchase price for an item differ depending on the supplier.
if you ever purchased the item from the supplier before, system will populate purchase price from that supplier.
or you can enter the supplier item price in the "Item and Inventory"->"Items"->"Purchasing Pricing".
unless you manually enter the standard cost, the standard cost is generated or re-calculated when you purchase the item.
It is more accurate using the supplier's item price.

the code is correct.
if (!is_account_balancesheet(get_post('retained_earnings_act')) || is_account_balancesheet(get_post('profit_loss_year_act')))
Display error if retained earning not a Balance sheet a/c OR profit & loss is a Balance sheet a/c

Profit & Loss is a company earned over a period of time (fiscal years),
Retained Earnings is the accumulated profits of the company since business started, minus any dividends distributed.
Profit & Loss is a temporary account like all revenue, expenses account, when you closing account, temporary account balance will transfer to permanent entries on balance sheet like retained Earnings, temporary account will set to zero in preparation for the new accounting period.

Hi, x_roast

Retained earnings is under Balance sheet Liabilities & equity section.
Goto Banking and General Ledger>GL Account Groups, add Retained Earnings account and select Liabilities on Class.
Goto Setup>System and General GL Setup, select your Retained Earnings account you just created.

Year Profit/Loss is under Income Statement/Profit and Loss Statement.
Goto Banking and General Ledger>GL Account, create Year Profit/Loss account and select Expenses on Account Group.
Goto Setup>System and General GL Setup, select your Profit/Loss Year account you just created.

Regards.

Hi Joe, you are welcome to put any video links to Wiki page, and really thanks Joe, Apmuthu and others of the contribution on frontaccounting project, I wish this project will keep continue and improve.

Hi, I have some experience on  using dimensions function in Frontaccounting, and I used SAP profit center and cost center function before, Frontaccounting dimensions module is really a great work, I just want to share some of my experience of using frontaccounting.

https://youtu.be/2WDh_lDcy1Y