Define Profit and Loss Accounts in Sage X3 V11

November 29, 2017 Published by

While trying to manually enter a journal entry in Sage X3, following error message may appear stating that “Profit and loss account not defined”.

To manually define profit and loss account, go to:

Parameters -> Organization structure -> Companies

Under the Accounting tab, mark the Retained check box as shown below.

Create a Retained Earnings account by accessing account creation function under:

Common Data G/L Accounting tables Accounts

Add this account to your Chart of account by going into,

Parameters Organisational structure Chart of Accounts

Now, go to the Miscellaneous Accounts Tab as shown below and add Retains Earnings account in the grid.

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