Sage 100 Contractor Chart Of Accounts

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Chart Of Accounts Setup Sage 100

For running reports in the Sage 100 Contractor system Accounts, the nominal accounts are divided into different categories. It becomes easy in analyzing the expenditure, liabilities, income, and capital. It in turn helps in determining the performance of the business. The Chart of Accounts in the Sage 100 contractor contains the list of all the nominal accounts, posting account numbers. It ensures verifying the accounts according to the categories. The below write-up will discuss the insights of Sage 100 Contractor Chart of Accounts. In case going to setup first time lets connect with experts on Sage Support Number to get the right assistance on toll free number ✆ 1-855-538-0866.

Sage 100 Contractor Pre-Built Default Chart of Accounts

On selecting the pre-built chart of accounts option, the Sage 100 Contractor starts automatically setting up the accounts range, posting account numbers, managing account numbers, and then generating the ledger accounts. You can easily change the ledger set up according to the specific requirement. Make sure while editing the ledger matches the modifications in the 1-8 General ledger Setup window. Here is the list of pre-built charts of accounts in Sage 100 Contractor:

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

Once you set up the chart of accounts, you can use the 1-7 ledger accounts window to modify the wrong account number, irrelevant accounts and also set up subsidiary accounts controlling accounts. Don’t forget to change the ledger account number on posting account number or modifying controlling figures in 1-8 General Ledger Setup.

More Sage 100 Custom Reports give you various options to manage and view Charts of Accounts in one place so the accounting task is more manageable.

Sage 100 Pre-Built General Ledger Setup

What is the procedure for choosing the Pre-Built General Ledger Structure?

In Sage 100 Contractor when you set up a new company there require setting up minimum item numbers and choosing a chart of accounts. You should set the application default for the below:

  • Fiscal field end
  • Setting the current period i.e. the program default posting period
  • Choose a valuation method named inventory

Here are the steps to choose a pre-built GL structure:

  • Firstly you are supposed to open 1-8 General Ledger Setup
  • Locate the Options button
  • Choose the suitable pre-built chart of accounts
  • Change the account ranges
  • Click on the box named Fiscal Year End, write the fiscal year-end date
  • Now do one of the below tasks:
  • To start writing transactions for the active fiscal year, fill the number of the current period in the box named current period
  • To fill a few startup transactions, click on the current period field to set the current period. It will change
  • Entry window period
  • For entering massive startup transactions, write 0 in the box which says Current Period.
  • After writing the startup transactions, write the ongoing accounting period in the box named current period with 1-6 Period
  • Click the File menu and then hit the Save button

A complete and proper Chart Of Accounts also gives help to Reconcile Sage 100 Bank Account because the user has clear cut or view of all income and expense accounts.

How To Enter The Beginning Balance In Sage 100 Contractor ?

  • For this firstly open the 1-3 Journal Transactions
  • Now click on the Edit menu
  • Hit Period and then click Period 0
  • Click on the trans field to write the transaction number
  • Select date field to fill the transaction date
  • Click on the description field to write the starting balances
  • Hit the Status list, hit 1-Open
  • Choose grid associated with the account
  • Click the Description field to write starting balances
  • Select the status list to hit 1-open
  • Hit grid for the account
  • Click Description cell to write about line item
  • Now enter the required ledger account in the account cell
  • Click on the sub-account cell to write the needed subsidiary account
  • Write the amount in the suitable debit cell/credit amount cell
  • Click on the File menu and then hit the save button

Find out the complete guide and steps users need to follow during Sage 50 Change Fiscal Year so state and federal tax calculated properly.

Create Sage 100 Contractor Ledger Account

Creating a ledger account in Sage 100 Contractor?

  • Initially open 1-7 General Ledger Accounts
  • Click box named data control, write the ledger account number
  • Hit box which says Short Name, write the ledger account brief description
  • Select Sage 100 Contractor 1-8 GL setup 4
  • If the account contains subsidiary accounts then they require setting up before transaction posting.
  • Click the subsidiary list
  • Hit 1-Subaccounts
  • Select file menu and then hit Save

Homebuilder Option Sage 100

Homebuilder estimating data:

The home builder option is easily available if you locate the Estimating Module. When you make a new company file, create a chart of accounts in the window named 1-8 General Ledger Setup, you can automatically start the home builder installation. Data estimation is beneficial as an initial point for the takeoff, and time-saving when generating estimates. It contains a particular chart of accounts,tasks, cost codes, and the below-estimating data:

  • Takeoff grid files
  • Assemblies
  • Parts
  • Assembly classes

How To Change Posting Periods In Sage 100 Contractor?

  • Click on the chart period window to modify the posting period i.e. Forward or backward. Here are the steps for changing period:
  • Firstly Open Fiscal Year Management and 1-6 Period
  • Hit Change period
  • Click on the Change period page , hit on the arrow corresponding to the box named change period to
  • Now double-click on the posting period in a window which says change period or you can enter a number in the field
  • Hit Change period
  • Now do one of the below points:
  • The application performed an audit and then confirms the posting period
  • Hit Yes to modify the period
  • It changes the selected posting period
  • Click yes to modify the period

Assistance & Help COA Setup Sage 100

Wrapping Up:
Chart of Accounts is an important feature of Sage 100 Contractor! Hopefully, the article helped you to know about managing a built-in chart of accounts and setting up ledger accounts. If you find anything difficult to understand and need to explore more then get a call from the Sage 100 advisor team. Contact them via phone number toll free number ✆ 1-855-538-0866, via live chat, or send an email.

FAQ – Setting UP COA Sage 100, Sage 100 Contractor , MAS 90

What To Do If I Need To Modify The Range Of Account Numbers In A Category In The Chart Of Accounts ?

Restructuring the Chart of Accounts will let you modify the range of the chart of accounts , moreover you can get more details about Sage 100 Accounts Payable .

What Pre-Built Chart Of Accounts I Can Find In Sage 100 Contractor??

There are four pre-built charts of Accounts available in Sage 100 contractor. They are below:

  • General Contractor Accounts
  • Remodeler Accounts
  • Subcontractor Accounts
  • Home Builder Accounts

Where Can I Remodel Data Estimation In Sage 100 Contractor ?

Estimating Module will let you remodel data estimation. It contains cost codes, a chart of accounts, tasks, and the below estimate data:

  • Takeoff grid files
  • Assemblies
  • Part
  • Assemblies classes

Can I Print A Chart Of Accounts In Sage 100 Contractors ?

Absolutely, click on the 2-7 Chart of Accounts to print the complete chart of accounts after choosing an account structure.

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