Owners of small businesses online must know that proper cash flow management and tracking are essential to business growth and success. And if you're using Peachtree accounting software, then you know that it can help keep your books in order. Peachtree accounting software has been around for some time. Some accountants swear by it, while others have grown tired of its many limitations.
But is this the premium accounting software you've been looking for? Is Peachtree the only software in town? What are good alternatives to this program? Keep reading to find out!
A Brief on Peachtree Complete Accounting Software
Peachtree accounting is just one option, but it's popular thanks to its robust functionality and scalability; it’s applicable for both small businesses and big corporations. Whether you're a small business owner or a freelance accountant, Peachtree can help you streamline your accounting processes.
The software includes all the basic accounting tools, like creating invoices, tracking payments, and automating financial reports. But it also goes a step further with solutions for inventory management and time tracking.
Peachtree has all functionality you need to set up for an accrual accounting system, such as accounts payable and accounts receivable. And because of its cloud-connected features, you can be sure that your accounting data will always be up-to-date.
Does Peachtree Still Exist?
Sage Software originally developed Peachtree accounting software. However, the product is now simply called Sage 50Cloud Accounting. While the name has changed, Sage 50 Accounting still offers the same robust functionality that many users loved about Peachtree.
Why You Shouldn't Get Peachtree Software for Accounting Your Finances
Sure, Sage offers the core functionalities of an accounting software. However, there are a number of reasons why you might not want to use this financial tool for your online business.
Sage 50 may have advanced budgeting and an eloquent system for vendor management and handling inventory, but it is not at all user-friendly.
With too many tabs and small fonts, Sage creates an oversaturated interface that is too busy, with too many colors and buttons. This can make it daunting for users to input transactions on their journal entries and general ledgers, and it’s visually overwhelming.
Experienced users can customize this software to make it less imposing. But if you’ve just recently acquired Sage 50 or you don't have any idea on how to use accounting software at all, you'll have a hard time navigating through its interface, let alone setting it up for your online business.
Many users find that its basic features are overly complex. One of the most common complaints is that the software is designed for accountants, not small business owners. As a result, many small business owners spend more time figuring out how to use the software than actually using it.
Cash flow, progress billing, and invoicing are all core functionality that business owners find useful. But when they attempt to utilize these solutions on Sage, they find that they’re unnecessarily broad.
Moreover, Sage’s more advanced accounting features, such as job costing and advanced inventory management, are designed for larger businesses. As a result, small business owners with only a few employees on their payroll may find they are paying for features they will never use.
Poor Customer Support
We've covered how users may have to spend a lot of time troubleshooting errors. Unfortunately, getting assistance from Sage 50's tech support when needed is quite draining. The wait times can be long, and you may not always get the most helpful advice from the advisors. You’ll be pouring hours and hours trying to get the support you need, but there will be many times when you can’t.
Costs More Than You Think
Many small businesses choose Sage 50 for their accounting software because it's one of the best financial tools. However, one of the drawbacks of Sage 50 is that it's pricey.
You can try Sage 50 out for free for one month. But after that, you'll be charged for the subscription plan you choose. The cost of each plan will depend on the number of people who'll use this software and the features you are after.
If you choose its starter plan (Pro Accounting), you can expect to pay around $33 per month. If you need more advanced features, such as audit trails, serialized inventory tracking, or workflow management, you can expect to pay closer to $91 a month.
For many online small businesses fairly new to the industry, that's a lot of revenue to cash out.
Sage users also complain that if you're using Pro Accounting and you want to back up your files, the software requires you to make an upgrade so that you can access your files from the previous year.
In short, Sage 50Cloud Accounting isn't cost-effective for small business owners.
No Mobile App
You can access your books easily since Sage is a cloud-based accounting software. You can access your company data and easily pay bills anytime, anywhere. But you’ll need a website browser to do so because Sage 50Cloud lacks a mobile app.
This can be a hassle for nomadic business owners who need to access their accounting information while away from their desks. While there are some workarounds, such as using the mobile web version of the software or using a third-party app that integrates with Sage 50, not having a dedicated mobile app can be inconvenient.
Alternative Accounting Software for Small Businesses
Despite its drawbacks, Sage 50 is still a great software, and its long-standing existence has proven that.
But Sage isn't for new business owners. Instead, we recommend this program for:
- Companies that are equipped with accountants familiar with the software
- Businesses who are used to having accounting programs on their desktops
- Users who need consolidated reports and statements
Sage is not the only option out there for online businesses. In fact, many other software providers may be a better fit for your small business.
The Most User-Friendly Program: QuickBooks Online
With its clean interface and intuitive design, QuickBooks Online is stress-free to use, even for new users. And, if you need help, there are online tutorials and a live chat support to find the answers you need. QuickBooks Online is also extremely versatile, able to meet the needs of not just small business owners like you but larger companies as well.
Sage has industry-specific functionality but so does QuickBooks. In recent years, QuickBooks Online has added new features to appeal to the needs of specific sectors, including:
- Mileage tracking for businesses that rely on vehicles
- Batched transactions for businesses with high sales volumes
- AI-powered automation for businesses that need help with complex accounting tasks
QuickBooks is the number one accounting tool in the tech industry, and for a good reason. It only requires minimal effort to use and provides a variety of features that you can customize to your small business. Plus, you can manage your business through a mobile app, offering more convenience to many users.
Perhaps best of all, QuickBooks connects to hundreds of third-party applications, consolidating your business's accounting needs into one centralized system. With its wide adoption and app integration, more than 1.5 million businesses use this easy-breezy program.
The Most Cost-Effective Tool: Xero
Do you know how many users Xero accounting software can accommodate? Unlimited.
One notable feature is the ability to add countless users to your account for every subscription level. This is particularly helpful for businesses that need to have multiple people accessing the account, such as a team of bookkeepers and accountants. Meanwhile, Sage only allows up to forty users for its advanced tier plan.
Other accounting software such as Sage often limit the number of users that can be added to a lower-tier subscription, which can be frustrating for businesses that need more than one user. With Xero, you can be confident that you'll be able to add as many users as you need, regardless of which subscription plan you choose.
Set Up Your Books Online With Unloop
Peachtree accounting software, now Sage 50Cloud, is a great option for large businesses with a team of accountants who aren't afraid of using this software. But, perhaps, many business owners are daunted by this overly sophisticated software. It may not be the best option for your small online business.
So, is there an alternative to Peachtree accounting software? The good news is that you can find a better financial program that will fit small businesses like yours. We've detailed our two favorites of the best Peachtree alternatives for you to check out.
Unloop offers cloud-based bookkeeping and accounting solutions for small businesses. With our expertise with QuickBooks and Xero and years of experience in the ecommerce business, you’ll be able to manage your business hands-free.
So if you want a change from Sage, we'll be happy to move you over and organize your business’s finances. Book a call today to learn more about our services and how we can help your business grow.