Hi There,
I am new to Oracle R12, and was in the process of setting up a new LE for testing. Everything seems to be working fine but when when i reached this step where i had to setup the accounts, i got stuck while definfing earning accounts.
I have defined the Accounts and nothing seems to be wrong, i can even see my accounts in the list of values, the problem is when I select an account for this field, it gives me an error:
‘Your Retained Earnings account must be a balance sheet account. ‘
Now, I tried every possible combination raging from account type ‘Asset / Liability and Ownership/Stockholder’s Equity’ but nothing seems to be working.
I am enclosing the attachment for my setup, i would really appreciate if somebody could guide me as to what i did wrong.
Thanks.
