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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.

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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.

tip.gif 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

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