N.Y. Comp. Codes R. & Regs. tit. 9 § 1642-3.12
All transactions in connection with numbered contracts during the development period (see the definition of account 1460, Structures, Equipment and Improvements, in Part 1641) shall be recorded in a contractors ledger. A separate sheet shall be set up for each contract awarded. The contractors ledger is subsidiary to and shall be controlled by account 2400, Contract Awards, account 1500, Incompleted Contracts, and account 2112, Contract Retentions, in the general ledger. The specimen form of contractors ledger is shown as Exhibit 19 of Appendix S-8. Generally available stock forms should be adapted by the local agency for the contractors ledger, with or without overprinting. A monthly trial balance of the contractors ledger shall be taken and the balances therein shall at all times agree with the general ledger controls. Postings to the contractors ledger usually originate from journal and accounts payable vouchers. The balanced contractors ledger is the source of all the information required for the schedule of contract awards required to be submitted with the periodic reports to the division. The information for the contractors ledger as to the contract payment for advances for materials stored is obtained from line 16 of the periodical estimate for partial payment (see Exhibit 14, Appendix S-11). Each periodical estimate will have the current figure shown on this line, until by the end of construction, the amount should be zero.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 1642-3.12