Upgrade Financial Changes
Major enhancements to Financials were introduced in Collect!
versions CV8.2.2 and CV10.2.2. This affects interest-bearing
accounts. As a result of the changes, anyone using interest
may see improvements in financials. You may find a few
accounts with differences in Owing amounts. Most changes
will be trivial. In non-trivial changes, you may be advised to
post an adjustment.
A built-in a checking program runs during the upgrade. This
writes a discrepancy contact to any account with differences.
This contact is assigned to the operator you are signed in as
when you run your upgrade and will appear in your WIP List.
After the upgrade, open your Work In Progress List
to view the accounts where the debtor's Owing changed
during the upgrade.
Financial Transaction Types
When you sign into Collect! for the first time to complete your
upgrade, it searches through all transactions types. If it finds any
duplicates, it keeps only the first one found and deletes any
transaction type that share the same code. (This may cause
unexpected results.)
Then Collect! looks for the transaction types that it needs
to update your financials (194,195,196,197,399,499, and 599).
If any of these required types is not there, Collect! creates it.
Please see Financial Transaction Type Settings for more
information.
If one of these types is being used, but has settings that do not
match the requirements, Collect! picks a new number for the
transaction type, in the same series, and renumbers all
transactions using that type code, adjusting them to match the
newly assigned Code. Any transaction that is renumbered in this
way will have UPG prepended to the
Description field for easy identification.
The 196 Transaction Type created for the debtor's Original
Principal is given a Paid Date and Posted Date matching the
earliest date on the Debtor form to ensure consistency with old
interest calculations and judgements. If the earliest date on the
Debtor form is the Judgement Date, the day before the
judgement is used to prevent stacking.
Zero dollar judgements are posted and a line is written to
the error log.
Discrepancy Contacts
When upgrading, Collect! recalculates each account. If there is
any difference in the Owing with the new version, a discrepancy
contact is created and assigned to the operator you are signed
in as when the upgrade runs. A contact is created for each
discrepancy.
A built-in a checking program runs during the upgrade. This writes
a discrepancy contact to any account where the new Owing is
different from the Owing prior to upgrade. The reason for the
difference is also noted in the contact that Collect! creates.
Please refer to Help topic, Discrepancy Contacts for details.
You can use the Manage Upgrade Contacts
utility to process these contacts.
If you have any questions about these changes please
do not hesitate to contact Technical Services
at support@collectsoftware.cc.
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