I tried to test the Period Closing Voucher there a field Closing Account Head and you can only select Liabilities account. Why should it be Liability Account? I think the account should be an Equity under Retained Earnings ? Did I miss something?
Maybe @nabinhait has some wisdom to share on this?
@ccfiel Yes, you are right, it should be either Liability / Equity. Actually earlier there was no root_type called “Equity”, we have recently added that. And we should allow both root_type because in many countries, Equity comes as a part of Liabilities. Can you send a PR?
@nabinhait@anand as I was about to change the code. Equity is already there my bad. I just need to type the first few letters of the equity account. I made a PR just changing the note “The account head under Liability, in which Profit/Loss will be booked” to “The account head under Liability or Equity, in which Profit/Loss will be booked”. PR link note added equity by ccfiel · Pull Request #4603 · frappe/erpnext · GitHub