As you discovered, you must leave the Financial Descriptions check box on to get account descriptions.
You didn't say what the description should be. You have to be careful when printing subledger descriptions, because the same value can have different descriptions depending on the subledger type. For example 00001001 could mean ABC Corp if it is an address book number but Desk if it is an equipment number. If you do not sort by subledger type, you will combine the information for both subledgers (ABC Corp and Desk) and label it with one description. I do not know which description will print, but I suspect it will be from the type of either the first or last row that is processed.
If there is any chance that there could be multiple subledger types, you must either: <ul type="square"> [*]Sequence by Subledger Type, then Subledger [*]Add data selection so only one subledger type is included [/list] Also financial reporting sections (tabular sections) only print on level break, so you must level break on both subledger type and subledger.