(800) 234-1111

FINPACK News

FINPACK Fall 2021 Update – What’s New?

by | Nov 8, 2021

The 2021 FINPACK Credit Analysis update has been released. Each year, we roll out enhancements and additions to the FINPACK Credit Analysis software with the fall release. With updates to Presentations, Detailed Balance Sheets, Cash Flow Projections and of course, the latest RMA data, the Fall 2021 update makes FINPACK an even more effective tool for your credit analysis. Let’s take a detailed look at What’s New for 2021.

Presentations

FINPACK’s new Presentation template editor provides enhanced capabilities and functionalities to FINPACK Presentations. One example of these enhanced capabilities is the ability to embed trend reports into the Presentation body (instead of including an attachment).

Including Balance Sheet Trends in FINPACK Presentation

Additionally, users can print a presentation as a *.docx file that is compatible with Microsoft Word.

Printing a *.docx file from FINPACK.

FINPACK+ users can also look forward to another new feature in the very near future—core interface capabilities for loan and account tables in the presentation. The FINPACK team is excited to bring you this new functionality, so be sure to attend the FINPACK Lenders Conference for a live demonstration of these important updates!

Detailed Balance Sheets

Our users appreciate the ability to add business capital purchase and capital sales details on the balance sheet. This provides additional asset information and it also can be used to complete capital transactions that need to be recorded in Schedule F Cash to Accrual Analysis, Earned Net Worth Analysis, and FINAN. In the 2021 release, this functionality has been added to personal assets as well. Users now have the ability to enter capital purchase and capital sales details like Year Purchased, Purchase Price, Year Sold, and Sales Price for all personal capital assets as well. This too can be efficiently transferred to the FINPACK Financial Analysis tools you are using for your credit analysis purposes.

Entering Personal Asset Detail in a Detailed Balance Sheet.
Using the “Select from Balance Sheet” functionality in FINPACK’s Financial Analysis tools.

C & I Business Analysis

The RMA Annual Statement Studies has been updated to include the 2021-2022 data for the FINPACK C & I Business Analysis tool.

Cash Flow Projection (FINFLO)

The ability to select Detailed Balance Sheet information has been expanded for cash flow projections as well. Users now have the ability to select crop beginning inventory details for use in crop sales detail. Using the “Select from Balance Sheet” icon allows the user to bring contracted sales detail listed on the beginning balance sheet into the cash flow projection.

Selecting crops sales detail from the beginning balance sheet in a cash flow projection.

Similarly, accounts payable and accounts receivable details can be selected from the Detailed Balance Sheet for use in a cash flow projection. There is an Accounts Payable expense available in cash flow projections utilizing either the FINPACK chart of account list or the Schedule F chart of account list. This allows the ability to select accounts payable detail from the balance sheet for the cash flow projection. Additionally, this same feature is available for accounts receivables detailed on the beginning balance sheet. Here, detail is brought into Other Farm Income in the cash flow projection.

Summary

With this update, FINPACK continues to improve and enhance our credit analysis and financial management software with many of these additions coming at the request of users. As always, please feel free to contact the FINPACK Team with any suggestions or requests, questions, or concerns; we value you as a customer and we are ready to help. A great way to connect with the FINPACK team is to attend the FINPACK Lenders Conference—either virtually or in-person—and look for us at the ABA Agricultural Bankers Conference to learn more about these and all the other exciting FINPACK future developments!

Latest News
Register for the 2021 FINPACK Lenders Conference

Register for the 2021 FINPACK Lenders Conference

After much thought and discussion, the decision has been made to change the 2021 FINPACK Lenders Conference to a virtual-only event. Our goal is a safe event for all attendees. 2021 Conference Details Date: December 14-15, 2021 Location: Virtual Pre-registration is...

ABA Agricultural Bankers Conference 2021

ABA Agricultural Bankers Conference 2021

The FINPACK team at ABA Agricultural Bankers Conference The FINPACK team was pleased as always to participate in the 2021 ABA Agricultural Bankers Conference in Cincinnati. We were proud to host the Pre-Conference Seminar together with Farmer Mac, featuring...

2021 ABA National Agricultural Banker Conference

2021 ABA National Agricultural Banker Conference

Make plans to join the FINPACK Team in Cincinnati at the 2021 ABA National Agricultural Bankers Conference Nov. 14-17.  FINPACK, Farmer Mac, and Dr. Kohl kick off the conference on Sunday afternoon as hosts of the Pre-Conference Seminar titled, "Speeding...

FINPACK+: Task Lists for efficient loan processing

FINPACK+: Task Lists for efficient loan processing

Task Lists in FINPACK+ help manage the efficiency and timeliness of loan processing activities for your team. Task Lists provide a ‘to-do’ list for credit team members, to ensure all steps of the credit process from request through the life of the loan are completed...

Farm Financial Standards Council 2021 Update

Farm Financial Standards Council 2021 Update

The Farm Financial Standards Council (FFSC) recently held its annual meeting where several updates were approved for the Financial Guidelines for Agriculture. These updates will be officially released in the 2022 version of the Guidelines. Here are some highlight the...