Robert Morris Associates revised their export file structures with release of the March 2000 industry data. Profit Plan has been updated to recognize new labels added in that release.

Profit Plan v2000 was sensitive to settings of the "[Left Margin]" option within the QuickBooks Detail reports. This setting will no longer impact Profit Plan's ability to import the report data.

If the "Skip Zeros" option is On in QuickBooks 2000 standard Balance Sheet and Profit & Loss reports, this also suppresses the zeros in the detail financial reports used for export to Profit Plan. Profit Plan v2000 required these zeros and was unable to import properly without them. However, Second Edition can now import the detailed financial statements without regard to the "Skip Zeros" option in the related standard reports.

When using the Horizon Link option to spread data created in one horizon to another horizon, the ending month of the first period in the horizon to receive the data (To horizon), should be the same as, or one period later than, the horizon supplying the data (From horizon). Otherwise the linkage will be only partially effective. This is now tested for and an adjustment of the Fiscal Horizons is recommended if indicated.

When entering a new account name via the Edit Account Window, padding spaces are now automatically provided to the left of the new name to align the name with the account name on the line immediately above. Backspace over these spaces, or add more when you begin entering the new account name, should you not wish it to line up with the account name immediately preceding it in the chart of accounts. (If the preceding line has no account name, no padding spaces are added.)

A new optional check box is now available on the Line Numbers dialog box. To have line numbers automatically updated as you add/delete accounts in the Account Setup tab, select Edit / Line Numbers from the main menu. Then check (click) the Automatic Line Numbers box.

By default, each period of each account in the Historical data area of the Assumption Sheet is filled with a simple formula (=0+US) which produces a zero. These are replaced with your own data as you enter it. A new optional default formula is now available that copies the value appearing in the cell to its immediate left instead. While this has the same initial effect of providing zeros until you enter data, it has an added advantage. Under this option, as you enter data into the Assumptions Sheet, its value is instantly reproduced to the right across the rest of the historical horizon via these formulas. This can prove handy for data entry of values that change infrequently, such as Common Stock outstanding, Rent, some Gross Fixed Assets, etc.

To set this option, select Options / Reset Assumptions from the main menu. When the Reset Assumptions Options... dialog form appears, select (check) the box labeled AutoFill historical data to right during data entry.

This option should NOT BE USED for EXISTING MODELS before checking to insure that all current zero values in the historical Assumptions Sheet data sheets are all truly zeros, i.e., not being generated from the default formula "=0+US". Otherwise, changing this default replaces the "=0+US" formula with one that reproduces the number immediately to its left. If that value is not a zero, the formula will now inappropriately replace the old zero value with the one to its left.

The review of numeric zeros can be performed by pressing Ctrl-B to open the edit bar, and then moving the cursor from zero to zero in the historical data. Each zero value that you want to remain a zero should appear as a simple numeric zero in the Edit Bar, rather than as the formula "=0+US". If "=0+US" appears instead, enter a numeric zero to replace it. (Don't change any other formulas that happen to be producing a zero, however.)

Full reset of the Assumptions Sheets normally automatically follows any edits to the Chart of Accounts. When this happens, all numeric formats of financial data are reset to a standard format of your choice. Now, however, numeric formats you have assigned to accounts with non-financial account types (like square feet of warehouse space, number of employees, common shares outstanding, etc.) will retain whatever format you assigned them until you manually change them or select the pop-up option to change the numeric format of the entire sheet. In prior editions, whenever the Assumptions Sheet was reset, these non-financial formats reverted to the numeric format applied to the financial (currency) values.

Some of you will have used the Format / Zero Suppression option to suppress (hide) account lines containing only zeros. The routine used to decide which section headings to hide has been upgraded and assumes that you are using an account indentation style similar to QuickBooks to identify sections. It attempts to hide the associated account sections headers above each section if all accounts within the section contain only zeros. However, this may not be appropriate in some situations.

Please review your suppressed reports the next time you load them, just to be sure the results are as you wish. If not, you may need to use the Format / Adj Rows & Cols option to achieve the results you desire. Unfortunately, there are so many different styles used to lay out financial statements, we cannot always produce the cosmetic result desired.

Profit Plan v2000 SE now recognizes Windows Millenium Edition as a unique operating system. In addition, all Profit Plan forms have been revised to comply with new background color requirements found in Windows Me. (Subtle cosmetic differences in object background colors occur in some earlier edition Profit Plan forms when run under Windows Me.)

Sources And Uses report now shows negative depreciation as a Use of funds. Prior editions assumed negative depreciation would not occur.

The Cash Flow - Direct, Cash Flow - Indirect, Cash Budget, and the Cash Budget Variance reports were all modified to include accounts with an Owners Distributions type in the Dividends and Draws line on these reports, rather than the less appropriate Adjustments to Retained Earnings line in which these values appears in prior editions.

The Statement of Net Worth report has been expanded to include changes in all Equity Balance accounts, rather than only the total change. The impact of Intangible Assets is also shown, together with a new Net Tangible Asset total, as is required by some lending institutions.

The Income Statement Variance Report and Balance Sheet Variance Report have been extensively reworked: Unlike all prior editions, v2000 SE provides automatic computations for all subtotals, as well as linkage between the income statement and balance sheet accounts, where possible. These formulas are based upon those found in the last historical period of the associated Assumptions Sheet. If a number (rather than a formula) is found in that column on the Assumptions Sheet, it is assumed that the user will also enter a number in the associated cell of the variance report.

The formulas are generated automatically for a specific historical period within both the Income Statement Variance report and the Balance Sheet Variance report upon entry of the first actual number in either of these reports. They are removed automatically when (if) all numeric data entry is removed from both of these reports for the same time period.

Profit Plan will not replace or override any numeric data entered by the user. It will also leave any user-entered formulas intact. (Only formulas ending with the magic "+US" identification are treated as belonging to Profit Plan itself, and, therefore, subject to Profit Plan review and maintenance.)

Paid In Capital - Total -- This account type adds together all equity accounts with an account type of Open Bal Equity (for QuickBooks users), Common and Preferred Stock, Minority Interest, and Other Paid In Capital. It was added in Profit Plan v2000 as Paid In Capital - Subtotal and renamed in Second Edition for clarity.

Adj to Retained Earnings (Year-To-Date) -- This account type allows entry of accumulated (Year-To-Date) earnings adjustments and distributions directly into the Equity section of the balance sheet to accommodate an accounting style sometimes found with QuickBooks statements. It may be used together with Retained Earnings (Prior Year), Net Profit After Tax (Year-To-Date) and Retained Earnings Net (Year-To-Date) to build a cumulative picture of earnings and distributions during each fiscal year.

Other Interest Exp(+) -- This new account type allows entry of interest expense in the other income and expense (non-operating) area of the income statement as positive values. Use the pre-existing Other Interest Exp(-) if your chart of accounts displays these values as negatives instead.

Other Expenses - Subtotal (Incl Othr Int) -- This new account type provides automatic subtotaling of all "Other Expense" accounts with "Other Interest" accounts (i.e. interest expense reported in the non-operating income and expense section of the income statement. Note: Insure that the sign used to report "Other Expenses" and "Other Interest Expense" is consistent; i.e. either both normally displayed as positive or both normally displayed as negatives. Either sign convention is acceptable, as long as consistently used.

Net Other Inc. & Exp. (incl Othr Int) -- This new account type provides an automatic subtotal of all non-operating "Other Income and Expenses". Note: Three "types" of interest can be handled within Profit Plan. While not new, the following is provided to help emphasize the difference between these to new users. The types are:

Net Distributions and Adjustments -- This account type provides a convenient total of all Non-recurring Gain(Loss), Dividends(-), Owners Distributions(-), and Other Adjustments to Net Profit account. This Net Distributions account total would appear at or near the end of the Income Statement and provides period-by-period totals.

You can use the Adj to Retained Earnings (Year-to-Date) account to accumulate distributions and adjustments on a year-to-date basis in the Equity Section of the Balance Sheet. Or you can use Net Distributions and Adjustments to total similar information on a period-by-period basis in the Income Statement. Normally you would not use both. Use whichever best matches the style in your current financial statements.