When it comes to choosing the right accounting software for your business, there are a lot of options to choose from. If you are looking into Peachtree complete accounting software—now called Sage50 Cloud (we’ll use the names interchangeably here)—it’s best to compare it against other accounting software first. This ensures that you get the most suitable tool for your small business’s bookkeeping and accounting.
Let us help you make the right choice by discussing the features you’ll enjoy when you subscribe to Peachtree. Let’s also compare and contrast the offer of Peachtree accounting software to today’s most reliable tools like QuickBooks, FreshBooks, and Xero. So by the end of this article, you’ll know whether to go for Peachtree or if you should choose different software.
Peachtree/Sage50 Cloud Features and Offers
Peachtree is a one-stop-shop for your financial management needs. You can rely on it to do the following for you:
- Tailor-fitted bookkeeping and accounting for small to medium businesses
- Time tracking
- Inventory and operations management
- Cloud-based data storage
- Billing based on timeslips
- Invoicing
- Cash flow management
- Bank reconciliation
- Job costing
- Generation of reports and financial statements
- Integration of payment gateways
- Payroll management
- Reports in different currencies
Peachtree/Sage software goes the extra mile to offer human resource management (HRM) software, customer relationship management (CRM), and corporate real estate (CRE) management for construction businesses.
For its HRM, the software allows visibility of employee schedules, filed leaves, timesheets, expenses, performance, and even recruitment. This is beneficial for a business owner because all the essential information about your business is in one place.
Peachtree vs. QuickBooks
After seeing the offers of Peachtree, you are probably wondering if QuickBooks offers them too. Many of the bookkeeping and accounting offers of Peachtree are also offered by QuickBooks. For instance, you can also rely on Quickbooks for these services:
- Live and up-to-date bookkeeping
- Accounting
- Bank reconciliation
- Various payment gateways
- Time tracking
- Payroll
- Integration of other accounting tools and apps
- Cloud-based security
- Invoicing
- Inventory management
- Generation of reports
Nevertheless, some offers and features are unique to QuickBooks. QuickBooks keeps in mind freelancers' needs by automatically tracking mileage and all freelancing transactions for bookkeeping, accounting, and obligations for tax season.
It also offers to backtrack previous months’ transactions if you did not sign-up for a contract at the beginning of the year.
Quickbooks is also one of the few software that offers a Priority Circle for individuals who want more training and knowledge on how to utilize the tool.
Peachtree vs. Xero
Another one of the most reliable accounting and bookkeeping software today is Xero. Like Peachtree/Sage accounting, it also offers the following features:
- Bookkeeping and accounting
- Availability of different payment gateways
- Projects and time tracking
- Bank reconciliation
- Integration of other tools into the software
- Invoicing
- Inventory management
- Multicurrency
- Secured company data in the cloud
- Accessibility on mobile phones and computers
Although they are the same in these areas, Xero is a step ahead with its analytics offers. The software has Xero Analytics and Xero Analytics Plus, where you can see the current health of your business in just a few clicks. You can also foresee your bank balance, run predictions, and plan scenarios because of the software's deeper financial insights.
Through Xero Analytics and Analytics Plus, you will also be reminded of the most urgent bills and payments to make and receive. You’ll know who to follow up with and which expenses you need to pay as soon as possible.
Peachtree vs. FreshBooks
You should check out what FreshBooks offers. The features of FreshBooks are best for small businesses as they offer straightforward assistance like:
- Customizable invoices
- Automated payment creation and acquisition
- Receipt capturing, storage, and inclusion in the books
- Time tracking
- Project tracking
- Availability of different payment gateways
- Quick generation of reports
- Accounting
- Accessibility on the computer and mobile phones
- Inventory management
- Bank reconciliation
- Generation of reports
- Integration to different applications
You’ll find FreshBooks appealing when looking for an affordable solution while ensuring you still get the best features. FreshBooks is one of the most affordable software, and as you can see, its offers are still competitive.
The Final Say is Yours
So, which accounting software should you choose? It depends. All of the software we’ve listed above have unique features and benefits, so it’s important to consider your specific needs. Weigh the features and offers against your specific needs and budget to make the best decision for your business. And if you still need help in making a decision, don’t hesitate to reach out to us—we would be more than happy to offer our advice.
Together with the insights, we at Unloop would also like to make the most of your time by discussing the bookkeeping assistance we offer for your business. So, give us a call now. We'd love to talk to you!