Quickbooks vs. Peachtree is a comparison that will always ring a bell to business owners like you. They are two of the most popular bookkeeping software programs today. But which one is better? Is there even a Peachtree accounting vs. Quickbooks battle, or are they equally great at what they do?
Continue reading for you to know the answers to these questions. Nevertheless, even if there isn’t a competition, you still need to choose. So, let’s take a look at the best features of the two bookkeeping and accounting software.
Peachtree Accounting Software Highlights
Peachtree accounting software is now called Sage 50cloud (we’ll use the two interchangeably in this article)—a tool you can install on a desktop computer. When you look for tools that can help you track your business finances, this name will be among the first recommendations you will see. Here are its best features.
A Tool for Businesses of Different Sizes
Peachtree, or Sage 50cloud, has categorized its offers for different business sizes: small, medium, and businesses of any size. So, owners can easily pick the services that fit the expanse of their venture. For instance, a small business offer includes cloud-based accounting, time and billing tracking, and workforce management. More and more bookkeeping and accounting features are added in the plans for other business sizes.
Solutions for Different Industries
Peachtree's service categorization for various industries makes it different from other small business accounting tools. The software particularly flexes its reliability by being an accounting tool for the construction, manufacturing, wholesale distribution, chemicals, food and beverage, professional services, and nonprofit industries. The tool features are tailor-fitted to satisfy the needs of the different trades.
Satisfying Different Business Needs
Nevertheless, if you do not classify in any of the industries mentioned, you can still enjoy these features of Sage 50cloud:
- ERP, accounting, CRM, and HR software
- Inventory and supply chain management
- Business intelligence
- Payment processing
- Accounting app
- Startup cost budget templates
These offers will be included depending on the plan you will sign-up on. The greater your investment, the more features you will get.
Also, if you ever pick Peachtree, know that you are getting these same features the best tools offer:
- Accrual accounting
- Money monitoring from various payment means
- Bank reconciliation
- Other software and apps integrations
- Inventory management
- Projects and time tracking
- Instant reporting
- Data security
- Simple interface
- Tax readiness
Quickbooks Accounting Software Best Features
Not far behind, the accounting tool many businesses go to is Quickbooks. You can access this software on desktop computers and mobile phones—its edge compared to Sage 50cloud. Quickbooks is equally reliable as Peachtree because of the following features.
Live Bookkeeping
When you sign up for a Quickbooks plan, you’ll enjoy its live bookkeeping immediately. This feature keeps your books up-to-date by ensuring that financial data from the start of the year to the current month are collected, categorized, and stored. If you sign-up midyear, bookkeepers will track whatever data is missing. Trained bookkeepers will update your books, live, from then on.
Classic Features for Accounting
You’ll also get to enjoy these classic bookkeeping and accounting features by using Quickbooks:
- Invoice generation, sending, and scheduling
- Bank reconciliation
- Income and expenses tracking
- Snap and store receipts
- Make and receive payments
- Preparedness for tax season
- Tools integration
- Data security
- Bookkeeping
- Inventory management
- Time and project tracking
Tax Penalty Protection
Keeping your finances tracked has plenty of benefits, but one among them is being prepared when tax season comes. With Quickbooks, you’ll be prepared with all the data you need. For the assurance that all the data you submit for a tax audit is accurate, Quickbooks has this tax penalty protection that guarantees up to a $25,000 payment if you get any tax-related inaccuracies and errors from the tool.
Quickbooks Priority Circle
Another perk you’ll get that sets Quickbooks apart from its competitors is the Priority Circle. This service is offered to Quickbooks Advanced users, and includes in-depth training about software usage and 24/7 customer support. You do not need to go the extra mile of looking for Quickbooks training programs, which surely cost extra.
Peachtree vs. Quickbooks: Individually Great
So, is there a Peachtree software vs. Quickbooks battle? As you see, both have the features business owners like you need for your company’s bookkeeping and accounting. Nevertheless, each tool has its benefits, making them distinctly shine.
If you work in particular industries with services supported by Peachtree, then it is best to pick this tool for your business. On the other hand, if Live Bookkeeping and learning from the Priority Circle sound appealing to you, then you won’t be losing out on signing up with Quickbooks.
Get Assistance from Unloop
The accounting software market is saturated with different options which promise to make your business life easier. The same is the case for Peachtree and Quickbooks. But is there a battle between Peachtree and Quickbooks? No, not really. They are both great software with different features. If you’re having trouble deciding which one to choose, reflect on your business’ needs and get the software that can satisfy them.
Here at Unloop, we use Quickbooks and other bookkeeping and accounting software to help you manage your finances. If you’re confused by Quickbooks or simply need assistance tracking your business finances, we are just a call away. Reach out to us now—we’d love to partner with you!