How to create a new General Ledger account for a new created company? I have created a company, 5 company codes in it, one chart of accounts, accounts group, fiscal year variant, controlling area.
When I try to create a new G/L account, it says that I haven’t created profit and loss statement account type. In configuration, I have to maintain a retained earnings account, but there I need to specify which account (retained earnings account of balance sheet) the profit and loss statement balance should go at the year-end.
Now, I cannot create any G/L account without specifying that retained earnings account, and retained earnings account without a G/L account.
What should I do?