Upgrade and downgrade procedures
From MagnOogle Magna WIKI
Magna Computer
9 May 2003
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Magna Upgrade and downgrade procedures.
Description
Upgrade is a general term to indicate that a new deal is being created and is reflective of a change of inventory from a previous time period. The resulting deal could be an trade of inventory where the price is equal, great or less than the previous deal. In all situations the procedure is the same and therefore called an 'upgrade'.
Money has no importance in the labelling of a contract as an 'upgrade'. However the labelling of the of an item as upgrade does not meant that the money information is not important.
Any upgrade of sales amount/downgrade of sales amount/even-trade are all referred to as an 'upgrade'. This is because the most common form of inventory transfer on a contract is an upgrade. However, the other two instances are handled exactly the same. ie.) Other number points to last contract, and the 'upgrade volume'(aka. UG) field on the contract is equal to New Contract Price minus the Old contract price. If the answer is zero then .01 is entered in the field.
Duality of Identity
All of these deals have one thing in common, a duality of identity. Here is that duality illustrated below. Sometimes it is a cancel, re-write. Sometimes it is not counted as a sale.
RECORDING: When looked at through the contract processors eyes it is a Cancel/Quit-Claim or the first deal and a new contract for the new deal. BOTH must be recorded (assuming the first was previously recorded).
SALES STATS: When sales statistics looks at the information the first deal (with the U status) is counted as if it never was cancelled or removed. The sale and the volume are kept in the original Full-Down or Written date range. The new deal is not counted as a new deal (unless there is substantial change in inventory such as a LEASE to TIMESHARE) and the volume is counted in the FULL-DOWN and WRITTEN date ranges it is involved in. A negative value in the other number field will mark that the deal is going to be counted as a sale.
Upgrading a Contract:
On the new deal:
Remember to always type the new deal first.
- Put the other contract number, the one form the contract that is being upgraded in the the OtherK field
- Put the upgrade amount (difference between the two deals) in the UPG field. If it is a downgrade then the amount will be minus. If it is an even trade then the amount should be 0.01 Make a note on how you came up with the numbers.
- If you want to count the new deal as a deal as well then put the OtherK field in as a negative number.
- Go into the upgraded deal.
Put the new deal's contract number there.
Make a note on how you came up with the numbers.
On the old deal
After you know for sure that the deal is going through and the recision period has passed for the new deal.
- Go to the old contract and cancel it with a U status. It might be advisable to put it in action notice until the Quit Claim goes through.
- Make notes.
- Make notes.
- Make notes.
Similar deals to this are reloads, but here we are only going to reference the old contract so that we know this person has more than one contract.
If you have a deal that comes back the same day, X out the first deal and do not write it up as an upgrade. Put the other contract number in the otherK field though. If someone comes back after one or two days the contract administrator may X out the first deal as well, then do not write it up as an upgrade but definitely refer to the previous deal.
In case there is some misunderstanding about what else to do - Make notes using F6.
Upgrades That Cancel
This can cause serious problems. Please report this to Magna support so that we can figure out what to do with it.
--James 10:53, 25 January 2007 (EST)
