1 Topic by bikash.p.bp (edited by bikash.p.bp 05/17/2024 04:32:06 am)

  • From: Nepal, Pokhara
  • Registered: 05/16/2024
  • Posts: 11

Topic: confusion in system and general gl setup

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).
What does that even mean. All of my account is set perfectly but shows the above error.

Post's attachments

Screenshot 2024-05-17 100019.png 131 kb, file has never been downloaded. 

You don't have the permssions to download the attachments of this post.
  • From: USA, CA, Valencia
  • Registered: 12/31/2017
  • Posts: 80

Re: confusion in system and general gl setup

Sounds like your accounts won't balance?
retained earnings are usually an equity type of account is account class set in a way you won't balance out when closing your temporary accounts like revenue and expenses?