R12 Error:'Your Retained Earnings Account must be a balance sheet account' (Doc ID 453090.1)

Last updated on JUNE 15, 2016

Applies to:

Oracle General Ledger - Version 12.0 to 12.1.3 [Release 12.0 to 12.1]
Information in this document applies to any platform.

Symptoms

While setting up a new ledger the following error occurs: 

ERROR:

Your Retained Earnings Account must be a balance sheet account

STEPS TO REPRODUCE:
1. GL Responsibility > Accounting Setups

2. Enter a value for Retained Earnings Account

3. Observe the error


Changes

 Creating new ledger

Cause

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