• Registered: 08/30/2009
  • Posts: 14

Topic: error The Retained Earnings Account or the Profit and Loss Year ..

The Retained Earnings Account or the Profit and Loss Year Account has not been set in System and General GL Setup


Excuse
Frontaccouting 2. 2. 4

Set up a new company
Create/Update Companies ->  Database Script ->  es_ES-iso-220.sql ( Chart of Accounts 2.2  espanish)

Configure the fiscal year, customers, currency, taxes .
Charge Inventary.


But when I do some operation, such as tax erase fiscal years old, I get the error
The Retained Earnings Account or the Profit and Loss Year Account has not been set in System and General GL Setup

And when I try to change the default currency,

Let alone a currency , the new, my country (Pesos). Set the default currency in Pesos, and erase EURO.

When I try I get an invoice, get error  lack the exchange rate.


Any idea.


From already thank you very much.
Sorry for my English

  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,106

Re: error The Retained Earnings Account or the Profit and Loss Year ..

You get this warning is you have not set the profit and loss year account or the retained earnings account. Check this in System and GL setup.
Try to retrieve the exchange rate manually in Exchange Rate.

/Joe

3 Reply by doknet (edited by doknet 01/28/2010 11:07:07 pm)

  • Registered: 08/30/2009
  • Posts: 14

Re: error The Retained Earnings Account or the Profit and Loss Year ..

Thank you very much for the answer

Problen 1)

En System and General GL Setup

before

Setup -> System and General GL Setup - > Profit/Loss Year:  100000 Gastos de Capital
Setup -> System and General GL Setup - > Retained Earnings: 100000 Gastos de Capital


now

Setup -> System and General GL Setup - > Profit/Loss Year: 140000 Diferencias Ingreso
Setup -> System and General GL Setup - > Retained Earnings: 100000 Gastos a Capital

Both were assigned to the same account, change it and leave to the error
Set Profit / Loss Year: and Retained Earnings: with just assign a different account for each one is enough or should we do anything else?

2) Exchange Rates

Erase all the Euro coins which she wore default accounts in Spanish and made new currency Pesos. I assign that currency (pesos) to the companies.

When I try I get an invoice, get error
Cannot retrieve exchange rate for currency as of 01/28/2010. Please add exchange rate manually on Exchange Rates page.

Transactions -> Exchange Rates

There is only one coin ( Currencie)  (Pesos $)

And the menssage

The selected currency is the company currency.
The company currency is the base currency so exchange rates cannot be set for it.

What should I do to fix this lack of change?

Thank you very much for your help and I apologize for my ignorance and bad English

4 Reply by doknet (edited by doknet 01/29/2010 04:04:38 am)

  • Registered: 08/30/2009
  • Posts: 14

Re: error The Retained Earnings Account or the Profit and Loss Year ..

Joe, I found that in the post https://frontaccounting.com/punbb/viewtopic.php?pid=4572#p4572  had treated a similar problem therefore is the question 2) Exchange Rates.--

I went to not duplicate the issues. Please if you can give me a clue that is wrong, you would do me a favor.
Thanks