Softrak Systems Inc. — Adagio Accounting Version

CORE ACCOUNTING CAPABILITIES:
Adagio’s core modules require users to set up source codes that provide
information on where each transaction originated. This process must be completed
in all modules. Budgeted data can be entered into the GL and tracked for every
ledger account. Users can also post transactions to a previous year. All invoices,
debit memos, credits and adjustments are entered in AP. Batches can be reviewed
prior to posting, and recurring batches can be set up in both AR and AP. Invoices
and statements can be customized and printed for any accounting period. The
‘ready to post’ feature displays the batches that need to be posted.

Sales tax information can be set up using both tax groups and tax jurisdictions,
and will need to be completed in each module. Adagio offers an excellent audit
trail that allows management to print a variety of reports that provide system
transaction detail, as well as activity in all sub-ledgers.

While discussed in more detail later in the review, inventory levels can be
tracked across different warehouses. Currency codes must be set up prior to
choosing the multi-currency option when entering or editing the chart of accounts.
It will be added under Currency Details and allow users to select the source
currency they wish to employ. A default currency option can also be utilized.

DAY-TO-DAY OPERATIONS:
Sales information is easily handled in Adagio, with the ability to display order
status as well as price level, price list, terms and tax status. Inventory status
can be monitored, and the bill to/ship to screen is split for convenience. Optional
fields allow for service plans, quotes and serial numbers. No point-of-sale
functionality is available in the core product, although an add-on is available.
Shipping vendor information can be entered, but the program only interfaces
with shipping companies through the purchase of a third-party add-on.

The customer management feature contains an area for general information,
such as payment information and credit limits, and account statistics that display
vital information such as largest invoice, average days to pay and last payment
made. The transactions option lists all sales information (with a notes area)
along with the ability to print statements and invoices. Vendor information
can be tracked, as well, with the ability to easily manage early payment discounts.
Fields can be customized for additional tracking.

The Adagio Inventory module is excellent, featuring multi-level pricing discount
capability and user-defined part numbers that can utilize up to 16 characters.
Users can also track multi-warehouse inventory levels, add items on the fly,
and initiate and track stock transfers. Excellent inventory management reports
are also available.

Adagio offers electronic funds transfer (EFT) capabilities. For those using
field offices, batches could be exported to a .csv file and then imported by
the home office. All invoices and statements can be emailed to recipients, and
customers can be set up with email capability, making it easy to email all correspondence,
forms, invoices and statements.

MANAGEMENT FEATURES:
Adagio GridView provides the ability to display real-time customized views of
specific data on the user’s desktop by selecting the module and choosing
the table and fields. The product provides an excellent menu of reports and
reporting options available in all modules with various filtering options. Report
Grids are fully customizable with the ability to pick the desired criteria.
The Financial Reporter allows creation of custom financial reports utilizing
a spreadsheet-type interface that simplifies report setup. Report totals contain
drill-down capability, and all reports can be exported to Excel, CSV, Crystal
Reports, Word, and a host of other formats.

User groups must be set up prior to setting up individual user system accessibility.
Once user groups have been set up, each new system user can be added. Each is
assigned both a group and then individual rights. This action must be completed
for each module to which the user/employee will have access.

INTEGRATION/IMPORT/EXPORT:
Users will save time by using import templates and by implementing automatic
importing of specific templates by marking the template as such and noting the
information in the corresponding company profile. The export batch function
mentioned below allows remote sites the ability to export batches to the home
office. Accounts, batches, transactions and prior-year data can all be imported
or exported. Utilizing the export batch function, all batches can be exported
to the user’s accountant, who could then, in turn, import them into Adagio.

The vendor offers a wide variety of module add-ons that will integrate with
the core GL, although they are in actuality sub-ledgers that contain information
that can be imported into the Adagio GL. A variety of third-party add-on modules
will integrate with the product, as well.

HELP/SUPPORT:
Each module in Adagio offers a solid Help function that allows for topic search,
as well. All available system updates, both current and past, can be downloaded
directly from Adagio’s website at no cost for support plan users. The
Adagio website provides a support forum, which includes general inquiries and
technical support. Also available is a page of technical tips, as well as access
to service packs, release notes and all module manuals.

A 15-month Upgrades/Maintenance plan is included in the cost of Adagio, with
renewal costs running $250 per module. The price is higher if support is added.
Support is U.S- based for U.S. customers and Canadian-based for Canadian users.

SUMMARY/PRICING
Adagio pricing varies, depending on the number of modules purchased. Most modules
can be licensed for $1,500 each, which includes the Adagio upgrade/maintenance
plan. Discounts are available for the purchase of multiple modules. Adagio estimates
the typical software implementation cost between $2,000 and $15,000, depending
on user needs and preferences. Program licenses for GL, AP, AR and Payroll are
$4,745. Upgrades and enhancements are $1,045 per year. Implementation assistance
could add between $1,000 and $6,000 to that price, depending on the complexity
of the payroll and financial reporting requirements. Although Adagio has marketed
itself to the small business industry, I truly think it’s better suited
for larger organizations with multiple field offices or locations that can better
utilize its structure.

2010 OVERALL RATING: