Is there an effective way small business owners could keep track of money that is spent as well as money earned by the business?
Lack of proper recording of revenue being made, transactions to vendors, and even pending or delayed client payments can make life difficult for a small business owner.
Nothing hurts an organization more than lack of good accounting practices and record keeping, seeing how this leads to limited cash reserves and late payments to vendors and employees. Do you face the same issues?
It’s a good idea to use accounting software as the best ones in the market equip you with hundreds of key tools that ensure precision and growth.
Choosing the Best Accounting Software
Both QuickBooks and Peachtree are considered ideal for small businesses. QuickBooks is by far the most popular accounting software in United States yet Peachtree isn’t far behind, giving the product a run for their money.
Both accounting software have their individual strengths and weaknesses, which is why determining the right one for your business can become difficult.
Following are the salient features offered by the software.
Peachtree – Should You Choose This Software?
Otherwise known as Sage 50, it is an accounting application specifically designed by Sage Software for small and medium-sized businesses. What is the main advantage of using this software? Peachtree assists comptrollers and managers with the following accounting tasks:
- Financial statements creation
- Checking automated invoices
- Reconciling payable and receivable accounts
- Spreadsheets import and manipulation
- Scanned documents integration
- Eliminating paper from the accounting process
QuickBooks – Should You Choose This Software?
Powered by Intuit Inc, QuickBooks offers easy and simple accounting solutions, helping manage payroll, inventory, sales and other elements of your small business.
So, what is the major difference between Peachtree and QuickBooks if both are accounting software? Features offered and enabled by QuickBooks are many compared to Peachtree, which include all aspects of small business management.
With QuickBooks, you can:
- View all banking transactions
- Track sales, sales taxes, and customer payments
- Send invoices and estimates from Hotmail, Gmail, or Yahoo!
- Set reorder points, track inventory, and create purchase orders
- Create and print deposit slips
- Import from Excel or another email address book
- Pay W-2 employees and file payroll taxes
QuickBooks also offers a lot of online features that encompass all accounting and bookkeeping requirements of a business.
There you go; QuickBooks is obviously the superior accounting software! Are you considering implementing QuickBooks Pro to your business’s accounting structure? A&B Accounting and Business Solutions, L.L.C offers extensive training of this program to businesses!
Contact us today!