These days, we’re seeing a lot of software offering different business solutions that make entrepreneurs’ lives easier. Nonetheless, it is still best to research first about the product and check reviews to ensure that you are signing up for the right service. It would also help if you considered many factors such as your business priorities, budget, and the different features the software offers.
This article will tackle two of the most talked-about accounting software in business, Peachtree—also known as Sage 50cloud—and Quickbooks. Naturally, these two must be on top of your choices, so let us help you decide by showing you a Peachtree VS Quickbooks comparison and weighing which of them is the best.
Quickbooks VS Peachtree: The Similarities
You’ll enjoy these four key services in both Quickbooks and Sage Peachtree.
Make sense of all the details your bookkeeper has logged in and generate reports of your business income and expenses through Quickbooks and Peachtree accounting. You can rely on both software to store and create accurate reports quicker compared to manual accounting. If you have important documents in another software, you can integrate them easily to Quickbooks or Peachtree as both software are integration-abled. As a result, there is no need to open several books and excel sheets to check data because everything you need is in one place. In addition, you can access real-time business data remotely and generate reports from the latest numbers.
Cloud-based accounting assurance
Cloud-based technology is developers' way to secure data. Before, you store important information about the company on an office desktop, which anyone can access. Now, data can be stored in the cloud with impregnable security that requires special approval.
Through cloud-based accounting, the manager of the company has control over who can access business information. In most cases, the company bookkeeper, accountant, and finance teams are the only people granted access. Then, you can customize this command to the software. All of you will see the same information no matter where you access Quickbooks or Peachtree.
Time and project tracking capabilities
There are plenty of benefits you can reap with accurate time tracking and project management. Among them are the following:
- You can check the time rendered by all your employees in-house or remotely.
- Project progress is also visible to you and other members of the team.
- Different teams and departments can collaborate.
- Business operations workflow is organized.
- The software can generate time tracking into invoices for easier payroll processing.
- The processed payroll will automatically be sorted as company expenses
- You can store data on time and project spendings for future reference.
A business owner like you must look for these convenient features in an accounting software—both Peachtree and Quickbooks offer them.
Payments and billing
Everything these days is automated, so if you bump into software that does not offer the automation expectations you have, just strike it off your list. When it comes to receiving and sending payments, generating invoices, storing receipts, and sorting all these transactions into categories for accounting, both Quickbooks and Peachtree accounting software got you covered.
So, get ready to link your payment, receiving accounts, your bank account, and credit card to Peachtree and Quickbooks so the software can track all direct deposits and spendings right away. Wherever you are, when you receive notification of payment or request to pay, you can process them instantly as long as there is the internet.
Peachtree VS Quickbooks: The Differences
On the other hand, here are the four key differences that may decide whether you’ll choose either Peachtree or Quickbooks. Let’s take a look!
Quickbooks offer live bookkeeping services that Peachtree doesn’t.
A prime difference between the two is bookkeeping services. Quickbooks has a team of expert bookkeepers clients can consult with at least two times a week to check how their business is sailing. Also, once you sign up for Quickbooks, backtracking the current year’s expenses and income becomes a breeze as these are considered top priorities. This step is done to ensure that you’ll have a clean annual review of your business by the end of the year. It also helps in tax paying. This function, however, is not offered by Sage, although you can track income and expenses the moment you use the software.
Quickbooks offer services for freelancers.
Sage focuses on small and medium enterprises, while Quickbooks provides bookkeeping and accounting assistance to freelancers. Just like the services regular businesses get, a freelancer can also track income and expenses through Quickbooks. As a freelancer, you still have tax responsibilities, and monitoring the money that comes in and out of your business in detail will help you comply with the tax laws and payments easily. You do not need to hire seasonal accountants who compute the tax for you, as Quickbooks already has that function.
Peachtree offers HR services; Quickbooks does not.
Peachtree has a service focused on human resource (HR) management, which is essential once you've grown your business and already manage several employees. There are four main services you’ll get from Peachtree:
- Sage HR
- Sage HRMS
- Sage People
- Sage CRM
Aside from accounting, the software also takes into account human relationships and employee management. This function is especially helpful if you have a remote team that rarely sees one another. Through the HR features of the accounting software program, employees' and customers' engagement are assured—any inquiries and concerns are all taken care of.
Peachtree has industry-specific features.
Accounting and bookkeeping are needed in all business types and sizes. Aside from offering general assistance, Peachtree provides industry-specific accounting, especially for construction and real estate. This feature is a double-edged sword. Still, the focus on the niche may inhibit opening doors to the wide variety of businesses out there needing financial management, bookkeeping, and accounting assistance.
Quickbooks offers general bookkeeping and accounting services. Their services are for freelancers and small and medium businesses, but no specific industry is mentioned.
Which Is Better: Peachtree VS Quickbooks
There you go! These are the similarities and differences of the two top-rated software for your bookkeeping and accounting needs. If we have to choose, we recommend that you use Quickbooks over Peachtree because of its complete offers and non-industry-specific assistance.
Quickbooks is also the software we use here at Unloop. We also use A2X and Hubdoc to ensure your business finances are handled properly and in full detail. If you are interested in a team that will handle all the accounting for you, feel free to send us a message. We’d love to hear from you!