QuickBooks Or Peachtree - Which is Better For Your Small Business?

In the world of accounting and financial software there are numerous options available to small business owners. Accounting is the language of business, so choosing the right accounting software program for your business is vital. Many of the accounting and financial software programs available perform the basic accounting functions using modules and can be used to enter, evaluate, analyze, and report information about business financials. Most new business owners have little to no accounting knowledge and are usually introduced to either the QuickBooks or Peachtree accounting programs. QuickBooks and Peachtree are current industry leaders in accounting software programs. Both QuickBooks and Peachtree are well suited to perform daily business transactions and entries, but which program is more suitable for your small business? The following is a basic analysis of the key main differences between these two popular accounting software programs.

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QuickBooks

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QuickBooks is the most popular of all accounting software programs due to ease of use and low costs. QuickBooks is the most widely used and holds about 90% of the market, according to the Journal of Accountancy. There are around eight versions of the program currently available that can each be tailored to individual needs and the Simple Start edition is available to download online at little to no costs. QuickBooks has been designed for users with basic accounting background and is essential for new businesses in which the owner has limited accounting knowledge. Also low costs make QuickBooks the program of choice for businesses on tight budgets. QuickBooks Online is currently available for $9.95 monthly with a 30-day free trial. QuickBooks can be used internationally, with UK and Canadian versions of the program available.

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Peachtree Accounting

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Peachtree can best be described as being the "accountants accounting system." Peachtree is widely used by accounting professionals worldwide and holds about 9% of the market. Nearly half of all Peachtree sales are generated by recommendations and purchases of accounting professionals. The Peachtree program also uses professional accounting terminology and jargon, which can be a little intimidating if not familiar with the terms. Peachtree has extra controls to prevent errors and detect fraud, which can make the program more difficult to use. Peachtree is also the program of choice if a high number of users will be using the program. The Peachtree program also has excellent inventory tracking features and is recommended for use by businesses in the manufacturing or retail sales industry. QuickBooks and other competitors cannot compete with Peachtree's inventory features, which can track part identification by serial number or customer stock keeping number (SKU).

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Making the Choice

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Studying the differences between QuickBooks and Peachtree is not enough to determine which would be more effective for your business needs. One should carefully analyze the specific needs of the business that will be using the program. Software users, such as CPA's and bookkeepers, should also give their recommendations as to which program is most suitable. If this task seems daunting there are numerous consultants available to perform a detailed analysis and determine the program of choice.

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