Peachtree Accounting is a business management software published by Sage Group. As of the 2013 edition, the software has been rebranded and now called Sage 50.
Peachtree is an accounting software application for small and medium sized business. It enables controllers and managers to automate and manage numerous accounting task like:
* Reconciling accounts payable and receivable.
* Creating financial statements and check invoices.
* Tracking bank transfers and payrolls.
* Importing and manipulating spreadsheets.
* Integrating scanned documents like receipts, invoices and eliminating paper from the accounting process.
Peachtree premium accounting can be used for specific functions like job costing, fixed assets tracking, progress billing and advanced budgeting to control costs, track expenses and organise billing.
Benefits of Using Peachtree
Peachtree is a great basic accounting software that offers several benefits such as:
Easy to Use
One of the benefits of using Peachtree is that you do not need an accounting degree to use it. For most of the functions, it is as simple as finding the button on the screen and clicking on it, which will bring up the appropriate window where you can enter all of the information that you need to. If you are computer literate, you will be able to comfortably move around in a very short period of time. They also offer help on their website. One of the great and scary things of Peachtree is that depending on your security clearance, you can change anything that you want, which is great if you need to change something. However, if you change something in a prior period, it will change your financial results in that period. It is the easiest of all accounting software package.
Easy to Setup
Another great advantage of using Peachtree is that you can be up and running in under a half hour. You do not have to know much or anything about accounting to set it up. Follow the onscreen guide and it will take you step-by-step through the setup process that includes setting up all of the company information, customers, vendors, inventory or service items, employees, chart of general ledger accounts, and security. For the general ledger accounts, Peachtree offers you the ability to choose from preloaded accounts or you can setup your own. My advice is to only setup your own if you have a decent understanding of accounting.
Functionality
Peachtree is a fully functional accounting system. It allows you to issue invoices to your customers, receive payments, enter payables to your vendors, print checks, pay your employees, track expenses, enter journal entries, and much more. It is packed with all kinds of different preloaded reports. Peachtree also will perform an internal accounting review that will identify common transaction mistakes.
Cost Effective
Another advantage of using Peachtree is that it is a cost effective solution. Depending on the version that you purchase according to their website, you can expect to spend anywhere from a few hundred dollars to a few thousand dollars, which is very reasonable for the amount of functionality and reliability that you are getting. My advice is to check your local office supply chain store ads around the beginning of the year and you can get a much better deal on Peachtree. The first version that I purchased for our small business, I was able to get for free with a mail in rebate through Staples. The funny thing is that it was not the least functional version either. Another piece of advice is to not purchase supplies such as checks through Peachtree, instead purchase them from your local office supply store.
Reporting Capabilities
Peachtree comes loaded with a large amount of reports that are all customizable in some way. They all can either be printed to PDF or dropped directly into Microsoft Excel. Almost all of the reports on the screen have drill down capability that you give you more information on what makes up the number that you are looking at.
Peachtree is a great system for people who are starting small businesses because it is easy to use, affordable, and has all of the functionality that you will need. The only drawback is that Sage only supports their versions for a few years before retiring them. You can either purchase new software when that time is up or you can keep using your current version.
Analyzing the Peachtree Accounting
The Peachtree accounting interface allows users to view information through seven(7) menu options:
1. Business Status
2. Customer and Sales
3. Vendors and Purchases
4. Inventory and Services
5. Employees and Payroll
6. Banking
7. System.
...to be continued.
For training or tutorial, Software Package, Handout on Peachtree Accounting, Contact Lola via Ololade781@gmail.com, +2348176743677
Or Kibash via Kbashib@gmail.com, +2347068769014
No comments:
Post a Comment