Define Profit and Loss Accounts in Sage X3 V11

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

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