The
conversion cannot find the retained earnings account in your QuickBooks
chart of accounts. Please correct this in QuickBooks and try again.
Sage 50 requires that you have a retained earnings account in the
chart of accounts. If Sage 50 cannot locate the account, you will receive
this error.
QuickBooks automatically creates the retained earnings account for you
when setting up your company. It is possible that you removed this account.
To correct the error, you must force QuickBooks to create a new Retained
Earnings account."
- Start QuickBooks and open your company.
- From the Reports
menu, select Company & Financial, and
then Balance Sheet Standard.
- Displaying the balance sheet forces the program
to search for a retained earnings account. If it cannot locate one, it
will create a new one for you.
- Close the report window,
and then try the conversion once again.