Adagio FX Getting Started

What the Tool Will Do

QuickBooks data is retrieved into the tool for report manipulation for version 2000-2004 for Pro and higher products.  Several "standard" reports come with the tool.  But, based on drag and drop features and spreadsheet-like functionality, the ability to create custom report formats appears endless.  The added benefit of "drill down" capability provides value to the user.

How to Obtain the Tool

For a free evaluation copy of the software, http://www.softrak.com/downloads/evals/index.php

In the dealer area enter McWilliams & Associates Inc and for the product, place a check mark in the box next to Adagio FX.

To purchase the tool:

$ 99.00            Standard version: for use with a single company data file.  This tool is the copy that the client or a business with only one QuickBooks data file would purchase.  For example, the Accountant could develop the reports using the Professional version then provide the template to the client for interim use with the Standard version. /product.php?productid=392&cat=3&page=1

$299.00           Professional version: for use with an unlimited number of company data files.  This is the tool most Accountants and Consultants would want since it will use the same template with different QuickBooks files without needing to set up the files each time the client changes.  If an accountant purchases the Standard version to try it, it is possible to pay the difference to purchase the upgraded Professional product.  /product.php?productid=392&cat=3&page=1-M

How to Use the Tool

Installation

The tool is a stand alone software program that is available as a download or via CD.  The installation is very typical of loading any program onto your computer.

Getting Started

After you install the software, choose Start > Programs > Adagio > FX > Adagio FX.  It does not automatically put a shortcut on your desktop.  To add a shortcut on the desktop, right click on Adagio FX and choose create a shortcut.  It is then possible to click and drag the shortcut onto the desktop for future use.

At some point within the next 3 months, you will need to register the software.  By clicking on the register button, you are taken to a form to complete.  Although it does not contain any instructions, once you fill in the form, it will print so you can fax or mail it to receive your license number (typically via fax within 24 hours of when they receive the registration information).

To use the software, choose continue. 

The next screen will ask for a user id and password.  The default is the user name of "sys" and the password of "sys" to access the software.  It is possible to set up additional users by choosing that option from the file pull down menu when in the software. Otherwise, sys and sys will be the user name and password in the future as well.

Note: It you choose to set up individual users, they are controlled by groups (specific areas of access within the software) so don't forget to set that up first if you want to limit the access of specific users.

Retrieving Data

Once into the software, typically the first step is to retrieve the data into the tool.  From the icon bar across the top, choose Retrieve.  The screen below will appear.  It may look slightly different until you choose the QuickBooks file to be retrieved.  The *.qbw file location and name should be in the long box below the word Database.  The single open folder will permit changing the name and directory of the file to be retrieved.  The picture that looks like stacked folders is a listing of the previous files that have been retrieved.

Adagio FX REQUIRES all accounts have an account number assigned to it.  If all the accounts in QuickBooks have account numbers assigned, it is possible to check the box for "user defined accounts."  If any accounts do not have an account number, either correct the situation in QuickBooks prior to the retrieve, or uncheck the box so Adagio FX will assign account numbers to each account as part of the retrieve process.  Based on work with the tool, the latter option is usually preferred.

The Class feature is translated into departments in Adagio FX.  It is also possible to retrieve the data and assign it to a specific class.  For example, 5 years of data could be imported with each year a different "department" to permit comparative statements in excess of the two years available within QuickBooks.  In this example, it is also important to check the box to "Append to existing data."

BE SURE TO CLOSE QUICKBOOKS PRIOR TO RETRIEVING DATA.  Once all the options have been set as desired, click on Retrieve and say "Yes" you wish to retrieve accounting data.  A progress bar will appear, then the message "Retrieve Complete."

Data Integrity Check

Once the data has been retrieved, it is recommended that the data be verified.  Choose File > Data Integrity Check > Check.  Do not proceed until the data integrity check is complete with no errors.  Typically, the errors result in account balance differences based on using user defined account numbers.

Create Reports

The next step is to choose Maintenance > Maintain Financial Reports.  This is where the true power of the software is. 

The default report maintenance screen looks like this:

To consolidate the various tool bar lines click on the double line to the left and hold down the mouse button to drag the tool bar next to the end of the line above.  Continue this process to clean up the navigation at the top of the screen.

By default there are many choices on the left that can be turned on and off from the view pull down menu.  They can also be adjusted in size by grabbing the edge and dragging it to the desired dimensions.  For example, the account groups are the power in quickly creating reports, yet it is very small as the third section down.  By resizing the views, or eliminating some completely, using the program is easier and more efficient.

To get started, try using some of the standard reports available with the software.  Click on File then open.  Below is a sample listing of what is available.  Choose one by clicking on it then click Open. 

Note: It may be necessary to change the account range for the current chart of accounts.  This can be done by replacing the incorrect account numbers with the correct ones, or by clicking on the first account in the range in the Chart of Accounts section (second section down on the left) and the press Shift and click on the last account in the range.  Click on the group of highlighted accounts to drop and drag them into the correct cell in the spreadsheet on the right.

Note: Blue cells designate information that will hide when printing.

Note: The number in the upper left hand corner with the pull down option designates the fiscal period for the report.

For financial statements by department 

If the default reports do not provide an acceptable starting point, it is possible to quickly start a report by clicking on the icon to the left of the account groupings (bottom section on the left hand side of the screen) then drag and drop the group onto the spreadsheet.  When dropping the group, the "select fields" dialog box will appear to permit adding the columns for ending balance for various months, net change for various months, etc.

Note: The formulas, by default, add the groupings so the formula may need to be modified.  For example, on an Income Statement, the correct calculation is not to add the income and expenses, but to subtract the expenses from the income.

It is also possible to create a report from scratch by using functions within the template.  This is more involved than minor modifications, just like if/then or macros in Excel are more complicated than simple formulas.  There is a comprehensive list of the functions in the users guide to assist with creating reports.

Adagio FX reports interface with Excel if needed.  Most of the functionality available in a spreadsheet software program like Excel is available in Adagio FX with three exceptions:

1. Although it is possible to have several sheets, it is not possible to reference formulas that calculate between sheets.
2. When creating a formula, it is necessary to type the cell, not just click on the cell to fill in the formula.
3. When printing, there is no "print report to one page wide" option.  With the Excel interface, however, it is effective to create the report in Adagio FX then simply print from Excel.

More information on this topic

Adagio FX