One of the first tasks when creating a new company in Sage 100 Contractor is to set up the general ledger structure. When you select a pre-built ledger, Sage 100 Contractor creates the ledger accounts for you. You can manually configure the general ledger by inputting account ranges, controlling accounts, and posting accounts. However, Sage 100 Contractor doesn’t generate ledger accounts automatically. Create each in the 1-7 General Ledger Accounts window.

When selecting the pre-constructed chart of accounts, Sage 100 Contractor automatically configures account ranges, controlling accounts, posting accounts, and sets up ledger accounts. You can adjust the setup as necessary. However, keep in mind that any changes in the 1-8 General Ledger Setup window also require updates to the ledger accounts.

Choose from four pre-built charts of accounts

• General Contractor (Four- or Five Digit)
• Subcontractor (Four- or Five Digit)
• Home Builder
• - Accounts
• Remodeler

After setup, you can edit account numbers, delete unnecessary accounts, and set up controlling accounts in the 1-7 Ledger Accounts window. Changes in 1-8 General Ledger Setup require updates to the corresponding ledger accounts.

 Note: Once you save a chart of accounts, you can't delete or edit it after entering a transaction.

Set up minimum items when creating a new company

• Fiscal Year End date
• Current period for posting
• Inventory Valuation Method (if using the Inventory add-on module).

Important: When you create a new company and set up accounting, you must set the program default Current Period. After that initial setup, you can only change the Current Period using 1-6 Period/Fiscal Year Management > Change Period. How?

Select a pre-built general ledger structure

1. Open 1-8 General Ledger Setup.
2. On the Options menu, select one of the four pre-built charts of accounts.
3. Modify the account ranges.

 NOTE: Change the account structure or to ledger accounts before posting transactions to the general ledger. 

Training resources

Sage University offers recorded training to help you learn Sage 100 Contractor.

• U.S. edition: www.SageU.com/Sage100Contractor
• Canada edition: www.SageU.com/Sage100ContractorCAD

Sage offers both complimentary and for-fee training. Fill out this form if you need assistance locating or registering for training.