The 2017 update of FINPACK includes significant changes to cash flow projections. FINPACK now has a section for Legacy Projections and Projections. So, what is the difference and where did my old cash flows go?
Legacy projections are the cash flow projection tools FINPACK users have accessed in previous versions. All previous Annual Plan and FINFLO projections are housed here. The Annual Plan and FINFLO tools have the same features and functionality of previous FINPACK versions. Users can continue to work with the legacy projection tools for the upcoming year, as you transition to the new projection tools.
Projections include the 3 in 1 cash flow projection tool. This tool allows users to select which type of cash flow projection they would like to use – the Annual Plan, Monthly Plan, or Monthly Plan with Enterprise Budgets. When creating a new cash flow projection (FINFLO), users can either create a blank projection or start with a copy of a previous projection. Here, users can select a Legacy FINFLO, a Legacy Annual Plan, or one of the new FINFLO types. Users will be able to copy a previously completed Annual Plan into a new Annual Plan, for example. If copying a Legacy FINFLO projection, the accompanying budgets will automatically be copied as well.
The FINPACK What’s New videos have complete details on the updated projection tools and other new features found in the FINPACK update.
Kevin Hamilton provides user & technical support for the Center’s desktop and web applications. Kevin joined the Center for Farm Financial Management in 2016. He worked at a leading agribusiness cooperative and helped numerous customers in the agriculture/agribusiness industry prior to joining the Center. Kevin grew up on a crop and livestock farm in southeastern Minnesota (Mower County) and stays connected to agriculture via his family and friends who are still engaged in farming. Kevin earned both his B. S. degree in Business Management and his MBA at the University of Phoenix.
