Setup of ledger account for Inventory, Inventory profit is not specified. in AX 2012

Error:

                Setup of ledger account for Inventory, Inventory profit is not specified.

Reason:

When you making any type of Journals which is related to Inventory part, there should be a Profit and Loss. If you are going to track or reports to you Top management, then you need to configure this Profit in the Item group.

Solution:

Go to Inventory Management >> Setup >> Inventory >> Item Group >> Inventory >> Profit

Select the specified Main Account / General Ledger Account which you have create in General Ledger module.

Else create a new General Ledger Account and map it into the Profit field.

Now you can make a transaction without asking this error in your feature time.