The latest FINPACK update is version 6.4.9. The update will be applied automatically for FINPACK+ users. For users of FINPACK installed, you’ll need to update via the HELP menu inside FINPACK. Launch FINPACK and select ‘Software Updates’ under the HELP menu. Click ‘Check for Updates’, then follow the steps to install. You can learn more about the details of the update here.
If you or your IT staff prefer, you can always download and reinstall FINPACK. Those desktop, laptop, and network file server installations are also available on our website.
If you have any issues with the update, please reach out to our Support team at (800) 234-1111 or email support@FINPACK.com
A few highlights of the latest updates include:
Presentations
The latest update fixed an issue with output options for tax forms in and trend reports, where the user’s choice of form or report would be erased after a save as well as fixing an issue in FINPACK+ with pasting an image into a presentation.
Tax Forms/ Income Statements
The update fixed an issue with calculation of average Total Debt Coverage Ratio and Term Debt Coverage Ratio in the Schedule F form. The numerator for average Total Debt Coverage Ratio is now Capital Debt Repayment Capacity rather than Cash Available for Debt Service. The numerator for average Term Debt Coverage Ratio is now Capital Debt Repayment Capacity – Interest on Current Debt.
The update also changes calculation of average Debt Coverage Ratio, dividing average Cash Available for Debt Service by average Total Debt Payments, instead of taking an average of Debt Coverage Ratios across years.
Summary Balance Sheet
Added a line item for accumulated depreciation in cost balance sheets for commercial files.
Connect with FINPACK
If you have any questions about any aspect of FINPACK, please don’t hesitate to contact us, and don’t forget to follow FINPACK on Facebook, X, and Instagram, or connect with us on LinkedIn, and be sure to subscribe to FINPACK News email updates.
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.