Error message “Posting definitions are required for year-end general ledger close.” in AX 2012

When you try to generate opening transactions in AX 2012, you get an error message " Posting definitions are required for year-end general ledger close. Select 'Use posting definitions' checkbox on General ledger parameters ". This warning message occurs if the Public Sector is a registered product. In AX2012 Public Sector feature depends on the Posting Definitions and Transaction Posting Definitions being created. A. Are you using the Public Sector feature? If this feature...(read more)