“Where did my cash flows go?”
This is the panic call FINPACK Tech Support has currently been receiving. As the credit renewal season begins, many users are quickly becoming aware Legacy Projections have been removed from the main file navigation dialog with the 2019 FINPACK annual update. Don’t fret, legacy projections are still available for viewing and use in customer FINPACK files.
Using legacy projections for new cash flows
You can create a new cash flow projection by copying forward a legacy projection in a customer’s FINPACK file. To do so use the “Create FINFLO with a copy” option in the Cash Flow Projection tool. When using this feature the drop-down box will list all cash flow projections available in the customer file. As seen in the graphic below, Legacy Plans automatically populate and are designated with “Legacy” as part of their title. FINPACK will automatically determine the type of plan (annual, monthly, or monthly with budgets) based on the plan you are copying. You will not be able to copy a plan and change the projection type.
Viewing legacy projections
Legacy projections can be accessed for viewing as well. To do so, go to Tools + Options, then File Settings + Legacy Projections. Once navigated to this location, all legacy annual plans and legacy month projections can be viewed. This is accomplished by selecting the desired legacy projection and then using the “View Output” button. No changes can be made to the projection, but the original version can be viewed and printed.
The “new” projection tool
At this point, FINPACK users are becoming fast acquainted with the FINPACK cash flow projection (FINFLO) tool. Still, there may be questions. The FINPACK Team has several resources available to assist with using the cash flow projection tool. These include:
- 2019-20 FINPACK Update webinar – this recorded webinar reviews all of the updates related to agriculture in FINPACK for this year.
- FINPACK What’s New videos – this series of videos was recorded when the new projection tool was first introduced and may provide some helpful tips and reminders.
- Which projection tool – this chart helps determine which of the 3 cash flow projection types is best. Choosing the projection to use often depends on the situation.
The legacy projection tools are no longer available in FINPACK, but customer cash flow projections created using this tool are still available. The “new” cash flow projection tool has been available for several years. This 3-in-1 projection tool has many new features. Many of the enhancements have come at the request of lenders and have received positive feedback.