GL Setup: Unable To Create SET OF BOOKS Error: "RETAINED EARNINGS SHOULD BE A BALANCE SHEET ACCOUNT"
(Doc ID 1037211.6)
Last updated on SEPTEMBER 03, 2021
Applies to:Oracle General Ledger - Version 10.7 to 188.8.131.52 [Release 10.7 to 11.5.10]
Information in this document applies to any platform.
Form: GLXSTBKS (Set of Books)
You are trying to create a new Set of Books as follows:
Responsibility = General Ledger Super User
GUI Navigation = Setup/Financials/Books
GUI Short Form = GLXSTBKS (Set of Books)
APPS Versions = 10, 11, 11i
1. You fill in all the required fields in the Set of Books form.
2. You are in the Accounts section at the bottom of the form. You enter an account code combination in the 'Retained Earnings' field.
3. When you try to tab past this field, you receive the following error:
"Retained earnings account must be a balance sheet account."
3. You cannot save your Set of Books without a Retained Earnings Account.
You are unable to navigate past the Retained Earnings field
-- This is a new install.
-- There are no other sets of books defined.
-- The value sets and segment values were all manually entered.
-- The Accounting Flexfield successfully compiled.
-- All the segment qualifiers have been properly set.
-- The account segment is an owner's equity account type.
-- Dynamic Insert is set to 'YES.'
-- There are no existing rows in the GL_CODE_COMBINATIONS table.
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