Disclaimer: Please note this article is not financial advice. The purpose of our blog is purely educational, so please consult a professional accountant or financial advisor before making any financial decision.
Have you been struggling to run your business? Running a business demands that you turn into a jack of all trades. You have to assume different roles to ensure that your business runs at its fullest potential. For instance, aside from building rapport with your clients, you also have to do inventory management and keep your stocks in check.
One of the tasks you must do as a business owner is accounting and bookkeeping. However, if you have only begun your business, you may not have enough money to hire professionals to do these tasks for you. But did you know that you can accelerate things using accounting software? Peachtree Accounting from Sage Software offers a complete solution for your accounting needs.
Read more below to discover how Sage Peachtree accounting software can help you manage your business.
What Is Peachtree Accounting?
If you have tried searching for Peachtree Accounting online, you might have encountered very limited results. It is because Sage Software renamed and integrated the core features of Peachtree Complete Accounting into the Sage 50cloud Accounting software, providing the same level of quality accounting service that users know and love.
In simple terms, Peachtree Accounting Software no longer exists as its own. Instead, it now lives at the heart of Sage 50cloud Accounting while taking advantage of the modern cloud-based functionality. However, unlike other accounting software, it remains a desktop application that many customers prefer.
How Can Sage Peachtree Accounting Help My Business Grow?
Aside from Sage 50cloud Accounting (formerly known as Peachtree), numerous other accounting software may help run your business. In general, accounting software lets small business owners like you automate tedious accounting tasks such as monitoring your cash flow, maintaining your payroll, issuing an invoice to customers, and much more.
So how does Sage 50cloud Accounting set itself apart from the competition? Here are some features that the software offers and delivers exceptionally well.
Cash Flow and Invoice Issuance
As you are busy involving yourself in the daily operations of your business, have you ever wondered how your business is doing at the moment? Sometimes you may want to have a snapshot of how much money is going in and out of your business.
In the olden days of manual accounting, you would have to wait until the day's end. Fortunately, accounting software can do this in an instant.
The Sage 50cloud Accounting software features a built-in Cash Flow Manager to keep your cash flow in check. However, it can do more than give you an instant overview of your cash flow. In addition, you can customize how detailed you want it to be. Moreover, if you want a detailed view of your cash flow, you can set an accounting period and filter the transactions you wish to see.
Payment and Banking Integration
If you have been doing your bookkeeping and accounting yourself, you most likely maintain a Google Sheet containing the transactions and other relevant financial information. You manually encode transactions into the spreadsheet every time you make a sale. You can skip this tedious task by automating it instead.
Sage 50cloud Accounting can take care of your accounts payable, financial statement, sales order, payroll, general ledger, and even inventory management for you. The accounting software does this through tight integration with bank feeds, thereby simplifying payments and account reconciliation.
Inventory Monitoring and Management
Have you been so busy that you forgot to check your inventory? Sometimes it is easy to forget to visit the storage and account for the units you have left in stock. Hiring a person to do inventory management for you can make this problem disappear. Unfortunately, you still need to account for human error and unforeseen situations.
Using a three-step process, you can use Sage 50cloud Accounting's built-in inventory management feature. So how do you go about doing it? First, encode the information under the sales account. Next, do the same for the inventory account. Finally, input the necessary details under the sales account. Once you are done, you can rest and let Sage 50cloud work.
Accurate Payroll Services
Has your enterprise grown so much that you now have tens to hundreds of employees? Then, doing the payroll for your employees yourself will surely take most of your time. Moreover, when they ask for sick and vacation leaves, you may also have to manually input information into your records. So even if you hire an accountant, they might still take time before issuing the payroll.
The Payroll Setup Wizard that comes with the Sage 50cloud Accounting software is truly a godsend for business owners and payroll officers struggling with settling their employees' salaries on time. The software simplifies and speeds up payroll tasks and offers advanced functionality. For instance, you can track your employee's tips and monitor their sick time hours.
What Are the Drawbacks of Sage 50cloud (Formerly Peachtree Premium Accounting)?
While there are plenty of good things to say about the Sage 50 loud Accounting software, there are still some areas that the company can improve on. For instance, compatibility can be an issue since it's a desktop application, especially if you are using a Mac. Learn more about this and its other shortcomings in this section.
Ancient User Interface
If you come from an accounting background, the Sage 50cloud Accounting software interface will feel right at home. Since it uses the tried and tested accounting software interface conventions, navigating through the software will be a breeze. But unfortunately, this same feature also makes it feel outdated compared to its more modern-looking rivals.
Limited Mobile Features
Who doesn't own a smartphone these days? Everyone has one. That's why companies develop mobile versions of their desktop-based applications. The Sage 50cloud Accounting software excels on this front but lacks mobile support. For instance, the app doesn't have OCR support and only attaches the actual photo of the receipt to the expense form.
Windows-only Compatibility
Today, when cloud-based software is all the rage, many still prefer installing a desktop-based program. Sage 50cloud Accounting software retains its beloved offline functionality while linking its features to the cloud. However, it can only be installed on a single, compatible operating system, namely Microsoft Windows, because of this feature. As a result, those on macOS can't use this robust software.
Try Unloop Today
Now that you know more about Sage 50cloud, why not take it further and get started with Unloop? Unloop takes advantage of human expertise and software automation. Our team of professional experts can help you settle your income tax, sales tax, and bookkeeping. Once you entrust your business's finances to us, accounting and bookkeeping will be a walk in the park.