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#36259 - 03/26/13 08:55 AM Start new year
FinanceAssistant Offline
Adagio Groupie

Registered: 03/26/13
Posts: 17
Loc: BC
Our fiscal year is March 31/13 and I want to Start a new fiscal year, however, I get this error message....

"invalid retained earning account on department 504"

I checked each account in department 504 and we have one retained earnings acct (4950-504) and all others are income accts. Can you suggest what we might have wrong?

Thank you
Diane

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#36260 - 03/26/13 09:39 AM Re: Start new year [Re: FinanceAssistant]
Retired_Guy Offline
Adagio Master

Registered: 03/16/99
Posts: 10504
Loc: Canada
Under Edit | Departments, check the Retained Earnings account for department 504. That's where the problem lies.
_________________________
Andrew Bates

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#36264 - 03/26/13 11:27 AM Re: Start new year [Re: Retired_Guy]
FinanceAssistant Offline
Adagio Groupie

Registered: 03/26/13
Posts: 17
Loc: BC
Thank you...turned out that it had been ticked as "inactive". Made all the difference!

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