When I cancel a Sales credit Memo from Posted Sales Credit Memo. I get the following error.
/Sales Line Disc. Account must have a value in General Posting Setup: Gen. Bus. Posting Group=LOCAL, Gen. Prod. Posting Group=CONSERV. It cannot be zero or empty./
The credit memo does not have any line discount.
The credit memo was created by cancelling an invoice. and the original invoice against which the credit memo was created also does not have sales line discount.
I can continue by populating the line discount account in general posting setup.
May be this is something that Microsoft needs to fix.