The 2025 FINPACK update adds new installation options, new tax forms features and updates, allows for more detail report options in cash flow projections, incorporates new Financial Standards Measures and RMA data, and more!
Installation Options
A new feature with the FINPACK installation this Fall allows you to install the software without needing administrator privileges on your laptop or desktop. During the installation, a dialog box will appear, giving you the option to choose between:
• “Install for me only”: This option is recommended if you are installing FINPACK on a personal laptop or desktop that only you use.
• “Install for all users”: Choose this option if you are installing FINPACK on a shared server for access by multiple users.
Select the option that best suits your needs and proceed with the installation. If you select the “Install for me only” option and have a previous version of FINPACK installed on your computer, a second FINPACK shortcut will appear on your desktop. The shortcut for this release will be named “FINPACK 2025.” Note that you will need administrator privileges to remove the old shortcut from your desktop.
Tax Forms/ Income Statements
- Schedule C: added line items to calculate a debt coverage ratio including personal income and other business income, similar to the Schedule F used with sole proprietors. This ratio is also available in risk ratings, presentations, and credit decision scorecards.
- Added detail for the “Other expenses” and “Other deductions” line items on several tax forms.
- Updated line item descriptions on several tax forms.
- Income Statement: added “Net income after tax” line item.
Balance Sheet Trend Reports
- Fixed issue where sold assets were included in the total for detail schedule reports such as breeding livestock, machinery & equipment, or titled vehicles.
- Fixed issue with calculating averages for line items showing the change from year to year.
Other Updates
- In Detailed Balance Sheets, changed the first field from “MakeModel” to “Description” to match the field label in data entry when exporting or importing the machinery list.
- Added more detail report options in Cash Flow Projections. Detail for the cash inflows/outflows section can now be shown separately from other detail.
- Fixed issue where changes to Default Output Options were not carried forward when updating the software.
- Added “Cash Flow Projection (FINFLO)” under Default Output Options in Commercial files.
- Added “FINFLO – Commercial” as an optional attachment in a Presentation Template.
- Updated FINAN / Sch. F Analysis scorecard graphs with 2022 data from FINBIN (Missouri, Nebraska, North Dakota, Pennsylvania, Utah-2021).
Get the Update
The 2025 FINPACK update will be applied automatically in FINPACK+ later this month. On installed versions of FINPACK, the update is available now. While in FINPACK, simply go to HELP + Software Updates and follow the steps. Any questions, please reach out to our Product Support team, and we’ll be happy to help!
Find Out More at the FINPACK Lenders Conference!
Learn more about the 2024 FINPACK update at the 2024 FINPACK Lenders Conference, Dec 11-12 at the Radisson Blu Mall of America in Bloomington, MN. Get the latest updates in Ag and Commercial lending, enjoy our stellar lineup of speakers, network with fellow FINPACK users, and interact with the FINPACK team. Learn more and register today!
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David Maguire helps Ag and Commercial lenders across the country understand the value of using FINPACK for credit analysis and loan management. David has worked in the marketing, training and education fields in Minnesota, Ireland and Germany.