Retail statement posting "Account number for transaction type ledger journal does not exist"

Retail posting statement issue:

“Account number for transaction type Ledger journal does not exist. Problem with posting to account number with name”

Solution:

Make sure that the difference account is selected open the retail store itself then go to payment methods then select the payment method and under posting tab add the proper difference account then save.

This is applicable for AX Retail 2012 and Dynamics 365 F&O