• From: Saudi Arabia, Jeddah
  • Registered: 12/12/2017
  • Posts: 43

Topic: The retained earnings account

Hi All
Please can any one clarify to me this. I try to make update but i got this red message

The retained earnings account must be an account of the financial statement or ...

see Pic
https://imgur.com/a/ucIPl

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  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: The retained earnings account

The said error can come in when the "Preferences" link (Setup => Display Setup) cannot be saved since there would have been no Profit & Loss Account defined or defined wrongly (line 66 of admin/gl_setup.php).

This error can also come when a fiscal year is closed without any Profit & Loss Account defined as seen in line 137 of admin/db/fiscalyears_db.inc.

Assume you are using FA 2.4.x.

Which Chart of Accounts did you start with?

apmuthu's Website

  • From: Saudi Arabia, Jeddah
  • Registered: 12/12/2017
  • Posts: 43

Re: The retained earnings account

US chart 4 digit

  • From: Saudi Arabia, Jeddah
  • Registered: 12/12/2017
  • Posts: 43

Re: The retained earnings account

then how i can solve this issue?

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: The retained earnings account

The standard sql/en_US-new.sql chart already has the Profit & Loss Account defined at Line 323 and set in the SysPrefs at line 1853.

Make sure your tables have these records.

apmuthu's Website