eTEK Fundamentals
800-888-6894
www.etek.net
From the June 2013 review of non-profit accounting systems.
Best Fit: eTEK is a relatively recent addition to the nonprofit network, designed for small to mid-sized nonprofit organizations.
Product Strengths
- Available for desktops or as SaaS
- Those familiar with Microsoft Office 2007 or later will find navigation easy
- Solid accounting functionality with a strong AR module
- Fund Raising and Donor Management module available
- Excellent import/export capability
Potential Limitations
- Cost may be too high for very small nonprofit organizations
- Nonprofit specific reporting options appear to be limited
Building off the success of earlier versions this updated and redesigned product is built to provide solid nonprofit financial management to smaller nonprofit organizations and government entities.
BASIC SYSTEM FUNCTIONS: 4.75 Stars
eTEK Fundamentals is available as a desktop system, or delivered as a SaaS. eTEK Fundamentals was designed using Microsoft Office 2010 and the user interface is based off the principles found throughout Microsoft Office, including the ribbon style functionality. Users should be aware that Microsoft Office must be installed prior to installing eTEK Fundamentals.
All system modules are found on the menu bar at the top of the screen. Clicking on a module will display all related functions found within that module. eTEK data entry screens contain all the required look up options and users can choose to use pre-formed templates when creating invoices or statements to make the process a little quicker. Batches are used when entering data, with users able to choose the batch criteria as needed.
eTEK Fundamentals Accounting Base Suite includes GL, AP, and AR Financial Reporting, Budgeting, Cash Management, and CRM module as well as the System Utilities module. Other add on modules available include Payroll, Human Resources, Purchase Order & Fixed Assets, AR with Utility Billing, Budget Preparation, Fund Raising & Donor Management. Users can purchase add on modules as needed.
CORE NFP/FUND ACCOUNTING CAPABILITIES: 4.5 Stars
eTEK Fundamentals uses a four segment GL account number with a user-defined coding structure: GL number, Fund, Object of Expenditure, and Sub-Account. Users can use alphanumeric characters to create the account description applicable to code numbers they assign with no limit on the number of funds, programs, or accounts.
System users can choose to process transactions in real time, or use the built in batch system in order to review data prior to posting. eTEK Fundamentals handles multiple transaction processing including journal entries, recurring invoices and JE’s, recurring statements, and automatic invoices. Users can add data on the fly, while processing cash receipts, invoices, or checks, with users able to post to the financial period needed, whether current, past, or future period.
Templates are also used throughout eTEK, making it easy to create an invoice, purchase order or statement based on an existing document. Users can create budgets for each account or fund set up in eTEK, with budgeted amount evenly distributed across the financial period, unless otherwise specified. Sample budget spreadsheets are available for use when creating new budgets, and detail can be modified as needed.
The Fund Raising & Donor Management module is optional, and contains the ability to manage all donor related data, including donations received, level of donation, gifts and pledges, and pledges. Users can also set up and track grants using the same structure that individual funds are set up as. Using the Safe Posting mode, users will be unable to post entries that are not balanced, and users can easily manage multi-year funds and grants by posting to any period desired, even if the period is closed.
All system transactions are recorded, providing easy audit trail access, including the ability to print a detailed report. Users can email invoices, statements, and other documents directly to recipients, and SaaS functionality allows users to access the system from anywhere at any time.
MANAGEMENT FEATURES: 4 Stars
eTEK’s Budget Preparation module allows users to create a complex, comprehensive budget that contains columns for prior year as well as current year budget totals, along with both tentative budget totals and adopted budget totals. This allows users to create current year budgets as forecasted budgets for the coming year.
System security is multi-level, with each user assigned access to modules, features in the module, and specific system screens based on job description. The batch entry system makes it easy for users or managers to review data prior to posting, eliminating erroneous postings. The AR modules tracks customer payments, all unpaid invoices, and processes customer statements. The Customer Payment History option provides users with a snapshot of customer AR activity including invoice and payment dates.
The optional Fund Raising and Donor Management module tracks all donor activity, including pledges, annual appeals and gifts, and donation levels. The Fund Raising module will also create automatic thank you letters to donors and if the organization has a membership, will also create renewal notices.
FINANCIAL STATEMENTS & REPORTS: 4.5 Stars
eTEK Fundamentals offers an excellent selection of standard reports, which are found in each of the system modules. There are more than 200 accounting and payroll reports that can be easily customized. Users have the option to print consolidated reports, or by individual funds and grants.
The built in Report Wizard helps users create custom reports in just a few moments. The Comparative Balance Sheet allows users to choose the criteria they wish to compare and the Trial Balance and the Trial Balance Detail provide a summary or detail about each account in the system. Users can choose to print reports by fund or grant to provide detailed information about grant or fund activity.
The Budget Summary offers a summarized version of selected budget activity, and the budget comparison provides detail on budgeted versus forecasted numbers. All eTEK reports can be exported to a variety of formats, including PDF and .CSV. Seamless integration with Microsoft Office means that reports can be exported to Word and Excel, as well as a text file. All reports, invoices, and statements can also be emailed to recipients directly from the statement screen.
INTEGRATION/IMPORT/EXPORT: 5 Stars
Built on Microsoft Office, eTEK Fundamentals easily integrates with all Microsoft Office products, allowing quick and simple data importing and exporting. All eTEK modules integrate seamlessly, allowing users to purchase the accounting suite and add additional modules as needed. Users can easily save and format documents into a variety of formats including .CSV, PDF, XPS, Text, Word, and Excel. For users utilizing the SaaS version of eTEK, accountants have easy access to system data from anywhere.
HELP/SUPPORT: 4.75 Stars
eTEK Fundamentals offers excellent Help functionality throughout the system, and a Self-Guided Tour as well as a Getting Started Guide assists new users in finding their way through the system. The eTEK website also provides users with a series of training videos, screen shots and sample reports. Users can easily access system updates from the eTEK website as well, and potential customers can access software demos to review the software prior to purchase. Various levels of support agreements are available, with support costs generally around 20% of the software cost, with all support handled by full-time employees of eTEK.
SUMMARY & PRICING
eTEK Fundamentals currently runs $3,995.00 for a basic 1-3 user system, which includes GL, AP, AR Financial Reporting, Budgeting, Cash Management and CRM. All add on modules are additional, with prices starting at $995.00. Training costs $250/module; and annual support runs 20% of total license fees. The basic SaaS version of eTEK is $283.00 per month plus hosting fees. eTEK offers small to mid-sized nonprofits and government agencies an attractive option that is fully scalable and available in two delivery models. SQL Server versions are available for larger organizations.
2013 Overall Rating: 4.5 Stars
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Tags: Accounting, Auditing, Nonprofit
