Updating existing FN files to use the revised Master Chart of Accounts is a simple process that takes only a few minutes. The procedure must be performed separately for each set of data files. You may update to the new Chart of Accounts at any time after installing FN.

Note: The following procedure expands the size of the Master Chart of Accounts beyond the capabilities built into earlier versions of Financial Navigator. If you use the procedure to update your Master Chart of Accounts, you will not be able to use those data files with an earlier version of FN.

To update the Master Chart of Accounts for your data files:

1. Back up the data files you want to update.
2. Print a report of your current Chart of Accounts for reference if needed.
3. Select Utilities | System Reconfiguration | Update to New Chart of Accounts. FN asks if your data files are backed up.
4. Select Yes to continue. FN displays a reminder that the data files will not be compatible with version 6.5 or earlier after the update.
5. Select Yes to continue. The system asks:

   Confirm changes in existing Group and Category names?

   Before the system begins to update the Master Chart of Accounts, you must indicate how the system should reconcile differences between account names assigned to the same account in the old and new Charts of Accounts. This occurs for two reasons:
   

   • You changed the wording for groups or categories to customize your Chart of Accounts.
   • The names in the Master Chart of Accounts have changed since you created your data files.
6. Select Yes if you want the system to ask you on a category by category basis before it changes any wording on an existing category. This is the safest choice. You then have a chance to preview any changes before they are made. Under this option, you can tell the system to keep your wording or to change it to agree with the new Master Chart of Accounts.

   Select No if you have not customized your Chart of Accounts and want the system to use the group and category wording now used for new sets of Financial Navigator data files.

   Note: If you select No, you will have no chance to accept or reject changes you made to group or category names. FN removes your changes and returns to the default names.

   FN updates the default tax codes and format types for all categories encountered when checking the Chart of Accounts names. The program changes the current tax code and format types in old data files to match the defaults used by FN’s Master Chart of Accounts. After comparing all group and category names in the Chart of Accounts, FN displays a message telling you that the update was completed.

7. Select OK to return to the FN desktop.
   

------------------
Renée Trudeau
Financial Navigator Service Provider