What's New in the Profit Plan v2006

Financial Software for the Business Professional

[Note: The Profit Plan v2006 Upgrade Edition automatically updates the current version of existing models to the new Profit Plan v2006 formats as they are opened. When saved again, the models will contain new features and will no longer be compatible with Profit Plan v2003 or earlier editions.]

So what's new???   The short answer is -- Lots!   We are sure you will find some of our new features uninteresting, and some others truly exciting.  There should be something new here for everyone, such as the...

(1)     New Comparative Financial Performance Analysis Report

This major new report provides eleven pages of graphics and analysis relating to the firm's key financial ratios.  Great for off-line review and discussion with management and staff!  Industry ratios are automatically included in the charts, for easy visual comparison with industry performance.   (Industry data must be obtained separately.)

 

(2)     Ratio Analysis Report

While basically unchanged computationally, the drill-down display associated with the Z-Score ratio has been reorganized to match original regression formulation sequences utilized to generate this empirical bankruptcy indicator.  (Cosmetic impact only.)

(3)     Industry Data:
 

This module has been enhanced in several ways:

·         Newly available web-based RMA Industry Statement Studies can now be purchased on the Internet.  Profit Plan will accept this downloadable data via simple Copy/Paste, to easily update any model.

·         Profit Plan can import and display NAICS, as well as SIC industry classification system data.  (Internally, Profit Plan v2006 continues to utilize the 2002 SIC classifications to remain fully compatible with historical models.)

·         A new Contractors-Non% category is now available for use with construction firms that do now include retainage and progress billings in their chart of accounts.  (RMA industry is available for both categories.)

 

(4)     Loans Module Upgrade

This module has been enhanced in many ways, ranging from simple rounding to...

·         Monthly Service Fees can be factored in, to find out what the real interest rate is on a loan burdened with them. The service fees are also automatically transferred into the forecast assumptions.

·         The Input View can be compressed so that only fields relevant to the current loan or investment are visible.

·         Totals are provided in the footers of the detail schedules, to show total borrowed, paid, accumulated interest, etc.

·         The Loan Variance Schedule now includes a cumulative column to display the running impact of payment delays, etc.

·         Multiple columns on these schedules can now be charted and displayed for review.

·         All numeric data entered on these schedules can be easily found with a new Find Numeric Data feature that redisplays the numbers in bold colored fonts.  (This new Find feature is also now available on the Assumptions Sheets and Variance reports.)

·         Interim (extra) monthly payments can be automatically treated with daily interest, even if the standard monthly payment normally only accrues interest on a monthly basis.

·         If desired, the principal portion of specific payments can be directly entered with the interest portion being then computed as the payment less the principal amount entered.

·         More fields are editable in both the Proposed and the Actual schedule views.

·         The Base Input sheets relabel themselves when converting from handling a loan to dealing with an investment asset.

·         Loan schedules can be extended beyond the model horizon on a global basis, to terminate at payoff or after some specified number of months.

 

(5)     Asset Details (new form)

 

A new methodology has been provided for  generating and applying classical straight-line depreciation within charts of accounts that have multiple depreciation expense and/or accumulated depreciation expense accounts. It is available for both fixed and intangible assets.  This new technique generally yields an approximated book value approach to expensing forecast assets without the need to develop detailed depreciation schedules for every asset on the books  It includes the ability to relate each asset account with a specific depreciation or amortization account and a related accumulation account.  A drop-down list with common Economic Life entries is also provided.

 

This technique is somewhat more robust than the default depreciation formulas, but less intense than use of the Amortization/Depreciation  module.  Use when appropriate.

 

In a related change, the old Production Equipment account type used for production related assets carried with it an assumption of seasonality.  Now this can be explicitly controlled by retaining the old (but renamed) Production Equipment(Seasonal) account type or reselecting the new Office & Other Nonseasonal Equipment account type instead.

 

(6)     Monthly / Quarterly / Annual Link Assumption Types (new)

New Link assumption types have been added to the Assumption Designer that allow linking individual accounts from any horizon to any other horizon.  These link types can be further customized via a selection list to produce uniform or seasonalized spreads, or to simply transfer the information via a Same As link, which is often more appropriate for balance sheet accounts.

Many of you will love this new Assumption Designer driven approach to linking data.

 

 

(7)     Default "Models Folder"

This new approach to model maintenance was added to help keep track of the many model scenarios often produced.

·         This feature facilitates routine backups by isolating the models into a folder easily added to the company’s nightly system backup.

·         Movement of the models between folders has been changed to insure that all components migrate together. To easily copy/move all of the models from their current locations into the new Default folder, for example, simply change the default Model Folder temporarily to the old location.  Then switch it to point to the desired default folder.  When prompted, a  simple "Yes" moves all existing models from the old folder to the new folder, or a "No" copies them, while leaving the originals behind.  Files not associated with the models themselves are left behind automatically; unaffected by the move.

·         Changing the default model folder also automatically updates Profit Plan’s "Recent Model" paths.  Those models located within the default folder are listed by name only.  All other models are listed with their full path exposed, even if copied to a floppy disk Drive A:!

·         During installation, the user can set the default folder to any existing or new one.  The Initial folder suggested is the easily remembered “C:\My Documents\My Models.”.

(8)     BizPlan Word Processor

This component has been greatly enhanced to include many new features.

·         Tables can be inserted for formatting control, much like in Word.

·         Numeric data within these tables can be charted, much as elsewhere in Profit Plan

·         Headers and footers are available, along with page numbers.

·         Graphics and charts can be pasted into the document from the Graphic Analyzer or elsewhere.  They can also be imported by standard Windows "drag and drop".

·         Document highlighting button is available on the toolbar, much like Word.

·         Document background color areas easily controlled by using embedded tables and changing the table cell backgrounds.  (In general text areas, background colors apply only where text characters appear; not in empty "white space.")

·         Final documents can be saved in PDF or HTML format, for more universal accessibility by others.

·         Graphics can be stored in relocatable format and later moved by pressing the [Alt] key and dragging the picture. Or they can be stored using a technique that lets them behave “like a character”;i.e. simply retain their relative position in the document much as any text word would.

 

(9)     Zip functions

Profit Plan now includes its own zip module.  It has the ability to list all models found within an archive and extract the model of choice.  It can also zip to or from any folder and awaits your confirmation of destination before proceeding.  In a related enhancement, Profit Plan can now also email any of these zipped models without the need to open them first.

 

(10) Message Log Viewer (new)

This new floating viewer performs two functions.  First, it controls automatic logging of Profit Plan messages and can easily redisplay them from a log file later, should one be missed, or need to be reviewed.  In addition, the Viewer can serve as a secondary word processor and convenient floating reference source while working on other portions of the models.  Like the BizPlan editor, this tool can read Word documents and html pages, as well as documents in its native *.txm format, txt files and/or rtf documents.

 

(11) QuickBooks Chart of Accounts Imports enhancements: 

·         The QuickBooks (CPA Edition) Detailed P&L reports can now also be imported, in much the same way as has been the case for the Detail P&L reports generated by the more common non-CPA QuickBooks editions.

·         Accounts with "intang" in account name  are automatically assigned an Intangible Asset related account type during import of charts of accounts.  QuickBooks actually classifies these as "fixed", which results in poor industry standard comparisons.

·         While importing the QuickBooks Cart of Accounts, those found with the word "loan" within the name and also classified as "other current liabilities" within QuickBooks, are now initially assigned a Notes Payable account type. This makes them immediately available as candidates for automatic borrowing during forecasts periods, should cash shortfalls be projected.

·         If no Current Portion of Long-Term Debt account is found while importing the chart of accounts, the senior loan amounts are automatically assumed to include the current portion also.

·         A Total Retained Earnings account is now automatically created to display the QuickBooks net Retained Earnings line.  However, Profit Plan continues to also produce an internal Adj to Retained Earnings account. This allows tracking and review of those after-the-fact adjustments often made to retained earnings after year-end for tax purposes or otherwise.

(12)  Adjust Rows and Columns

This pre-existing form has been reduced in size for greater convenience.  Modified selection criteria make adjustment of rows and columns more intuitive than previously.

 

(13) Thesaurus and an upgraded Spell Checker

 

The spell checker now functions in most editable areas within Profit Plan.  Great for fixing account name errors, as well as cleaning up that business plan document.  In addition, a modest thesaurus is now available to help find just the right word in the plan.

 

(14) BizPlan Business Outlines

These have been upgraded and now include highlights, to facilitate visual relationships between the Business Outlines content and the more detailed outlines in the Topic Issues window within the BizPlan module.

 

(15) Bold vs Edit Bar

To facility word-processing functionality while setting up the Chart of Accounts, the key-pair [Ctr][B] now bolds a highlighted account name or title within the Account Setup tab.  This key-pair continues to open the Edit Bar in other modules.

 

(16) Menus and main tabs

The general look of Profit Plan has been upgraded to a more "XP" compatible appearance through adoption of new tool bars.  (No impact on functionality.)

 

Many other minor and perhaps less obvious features and enhancements have been made to help you along the way, ranging from simple message edits to addition of a new 501(c)(3) organization type. 

 

For those upgrading from editions preceding even 2003, we have included a copy of Whats new in Profit Plan v2003 as an introduction to those features added in 2003 that will also be new to you now.

 

All in all, we are sure you will find Profit Plan v2006 a great tool for in-depth management of your Vision of Tomorrow!

 

Enjoy!

 

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