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”.

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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Panni Techdesk

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For over a decade, Panni has helped companies transform their businesses to lead, innovate and be profitable. With the right combination of technology and experienced developers and consultants, we help companies with Change Management to achieve the organizational objectives. We believe in long-term relationships with our clients and provide top-notch support with fast turnaround times.