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2019 FINPACK Annual Update

by | Nov 1, 2019

The 2019 FINPACK annual update is here.  Each year there are enhancements and updates to the FINPACK software.  In 2019, you’ll notice there are some important updates and new features to take note of.  Let’s take a look at What’s New.

Legacy Projections         

The most visible update to this year’s release is the removal of Legacy Projections from the main file navigation dialog.  Don’t panic!  You can create a new Cash Flow Projection from an old Legacy Projection.  Also, you can still view Legacy Projections in the file.  To do so, go to Tools + Options, then File Settings + Legacy Projections.  If you need a reminder on what’s different between legacy projections and the new projection tool, watch these videos for details.

Cash Flow Projection (FINFLO – agriculture)

“Burn Rates” have been added to the Executive Summary in the lower right Other area.  The “Burn rate working capital (years)” and “Burn rate net worth (years)” will display when there is a negative change in working capital or a negative change in earned net worth, respectively for the cash flow projection. 

“Burn Rates” displayed in Cash Flow Projections

Also, in case you haven’t noticed, a financial scorecard was added to the output of cash flow projections in a summer update.  This additional page of output plots the farm financial ratios from the plan on the included scorecard.  Ratios plotted include liquidity, solvency, profitability, repayment capacity, and efficiency measures. 

Cash Flow Projection Scorecard

In addition, input worksheets for all cash flow projection (FINFLO) types are back by popular demand.  The input worksheets are found in the Print dialog box when entering a cash flow projection.  The Print dialog box is also where to find the balance sheet worksheets when entering detailed balance sheets. 

Tax Forms / Income Statement (agriculture and commercial)

“Period End Date” and “Months in Period” fields have been added to data entry to better describe partial years.  This addition better allows for quarterly spreads for mid-year monitoring.  Existing data in the file is assumed to be annual information.  Therefore the “Months in Period” is automatically set to 12 and the “Period End Date” is set to December 31 of that year.

“Period End Date” and “Months in Period” addition to Tax Forms / Income Statement

C & I Business Analysis (commercial)

The 2019 FINPACK update has built upon the recent enhancements to the C & I Business Analysis.  This year a Statement of Equity report section has been added to augment FINPACK’s tools in analyzing commercial credits.  The statement of equity report verifies the net worth reported on the balance sheet equals the calculated net worth and will identify any discrepancies.

Statement of Equity

The ability to do a partial-year analysis (i.e. monthly, quarterly) has been added to the C & I Business Analysis.  The partial analysis is based on “Months in Period” entered in the tax form / income statement.  Some measures are adjusted for consistent comparison between periods.

Detailed Balance Sheets (agriculture and commercial)

A more streamlined method of entering and editing detailed balance sheet information is now available.  FINPACK now has the capability of importing and exporting detailed data to CSV files.  The process works in the Intermediate, Long Term, and Personal Assets of an agricultural balance sheet and the Noncurrent and Personal Assets of a commercial balance sheet.  The import/export feature is also available for consolidated balance sheets.  Specific steps related to the process are found in this help guide.  The key to the import process is proper column headings in the prepared CSV file.  A detailed list of column headings needed for each asset type is included in the referenced help guide.  As you work in detailed capital asset data entry on the balance sheet, you’ll notice these new icons related to the import and export functionality. 

Financial Analysis (FINAN – agriculture)

The calculation of Energy Corrected Milk (ECM) has been added to the dairy enterprise analysis in FINAN.  Additional input information needed for this calculation includes total pounds of protein and total pounds of fat sold for the year.  This is entered on the Other Information tab of the dairy livestock table.  Additions to the dairy enterprise analysis output include Energy corrected milk per cow and Pounds of protein and fat per cow.

Another addition to the dairy enterprise analysis is the inclusion of cows per milking unit in Other Information.  Additional data entered in the Other Information tab related to this metric is the number of milking units.  This information, along with the average number of cows, is used to calculate the measure.

Data entry additions to the dairy enterprise analysis
Dairy enterprise analysis enhancements

Scheduled Webinars

To learn more about the 2019 FINPACK updates attend these scheduled webinars.

  • The FINPACK Team recently hosted a webinar related to agricultural credit analysis updates. The recording can be viewed at: z.umn.edu/finpackag.
  • The FINPACK Team will be hosting a webinar related to commercial credit analysis updates. Log in to z.umn.edu/finpackcommercial on Dec. 4th at 12 pm, central time.


FINPACK continually strives to improve and enhance our credit analysis and financial management software.  Many of these additions have come at the request of users.  As always contact the FINPACK Team with questions or concerns.  Also, if you are attending the FINPACK Lender’s Conference you will learn more about these updates and exciting future FINPACK developments.

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