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.
Let's face the facts: We are now living in a digitized world, and jotting down income and expenses on your column notebooks is so 1990. Furthermore, the COVID pandemic pushed us to do most everything online, even our finances.
Perhaps, you're one of those people who are still undecided on which accounting software to use for your personal or business needs. This article will share a complete guide to Peachtree vs QuickBooks comparison.
Let's see which one is better.
Overview:
We want to state the fact right away that both Peachtree accounting and QuickBooks Online are rich in features and considered comprehensive software by the industry. Moreover, they have been long-standing and well-received for decades.
QuickBooks, however, emerges more popular than Peachtree, with over 4.5 million users across the globe, according to QuickBooks Intuit. But this doesn’t mean it’s over with Peachtree.
Back in 2013, Peachtree changed its name to Sage 50cloud. But even after its rebranding, it's not as well-known as QuickBooks. However, it has merits that QuickBooks lacks.
We’ll take a look at what sets them apart, starting with their features:
Peachtree vs QuickBooks
We won't bore you with very technical terms, but instead, we’ll tackle what makes them stand out from the rest.
As business owners and accounting professionals, the first thing we have to consider in choosing accounting software is accuracy. Managing and auditing your books with highly accurate managing solutions is paramount, and we know that both software is worth trying, especially if you're an owner looking for a risk-free option.
Key Features
| Peachtree (now Sage 50cloud) | QuickBooks Online |
| Manage your inventory, no sweat! | Pay or get paid with ease using online invoices and electronic checks. |
| With just one license, you can use it for multiple companies. | Make financial statements like profit and loss statements in just one click. |
| Keep track of your sales tax. | Customizable reporting made easier and more personal |
| Get assistance within minutes. |
App Integrations
| Peachtree (now Sage 50cloud) | QuickBooks Online |
| Integrated with Shapeways for easy purchase orders | Pay your people with Intuit Payroll. |
| Print labels with Endicia | Avalara AvaTax lets you pay taxes conveniently |
| With Concur, you can generate expense reporting | Assign and track licenses with License Logic. |
| Stay connected with your customers with Microsoft 365 Integration. | Xero integration |
One of the biggest advantages of QuickBooks Online is their vast app integrations across many platforms, not just on accounting but for payroll and ecommerce. With over 650 apps connected to QuickBooks, Peachtree is down for the count on this one.
Layout and Design
| Peachtree (now Sage 50cloud) | QuickBooks Online |
| Simple but overwhelming with its multiple tabs and screens | Simple and minimal |
| Very transparent in calculating to see where your money goes | On-the-go forms for faster reporting and filing |
| Quickly and efficiently delete the entire transaction history and other such data instead of deleting every transaction/record one by one. | Enter information into the blank template of a report or document you want to file. |
| Customize your charts of accounts to fit your needs. |
While any of QuickBooks' features are quite beneficial, it lacks some major accounting features that Peachtree has, such as employee management, budget, and investment tracking.
Peachtree’s interface is simple, and some might even say it’s easy to navigate. However, compared to Quickbooks, there is a learning curve to using Peachtree. Therefore, it will take time to use this tool to its full potential.
Setup and Usability
We will skip to the bottom of this and say, QuickBooks wins. Installing and setting up this accounting software is extremely easy. There are three options for QuickBooks Online installation:
- Opt for an online cloud-based service that gives you access anytime and anywhere.
- Download the software on your computer and run it locally.
- Buy the software license and install QuickBooks on many computers as needed.
Peachtree provides the same installation and setup as QuickBooks, but its design and layout backfire once more.
QuickBooks offers pre-loaded reports and documents that only require the information. On the other hand, you have to make your reporting and documentation from scratch with Peachtree.
If you aren't an accountant or someone with accounting experience, this will take time to get used to.
Peachtree vs QuickBooks - Their Best
You have to think about what you prioritize in your business because both accounting software is quite good in their own right.
QuickBooks Online embodies the word "user-friendly." Therefore, professionals and non-professionals could appreciate this tool's appearance and ease of use.
Another thing that’s best about QuickBooks is its robust features. You would think that basic accounting and reporting are enough, but once you use QuickBooks, you wouldn't want to switch to any other software.
Pre-loaded templates are perfect for workaholics who want to get things done quickly and effectively, like lightning strikes.
With Peachtree, everything is clear and transparent. As a result, you can save on hours and monitor your finances effectively. Their dashboard might be overwhelming to many, but with training, you could benefit from Peachtree's in-depth accounting solutions.
Peachtree vs QuickBooks - Their Worst
Peachtree and QuickBooks Online still have areas to improve on. So if the following cons bother you so much, you might need to reconsider your options.
Peachtree boasts its highly customizable features, but it is hard to develop a report if you have a deadline to catch.
Also, we can't mention their user interface enough. You might need to hire a professional or go through the modules and training to use Peachtree properly.
While overflowing with features, QuickBooks can give you a hard time mastering the software in its entirety. At times, you could even think the features unnecessary, especially if you're a freelancer or a micro-business.
Peachtree vs QuickBooks - Price Points
Good news! Both Peachtree accounting and QuickBooks Online graciously offer you special discounts. Moreover, QuickBooks has a 30-day trial period, and Peachtree lets you take a test drive or view an on-demand demo.
So if you are skeptical about choosing which one, you can always try them out for free. And if you do decide to subscribe, here are the available plans:
QuickBooks
| Simple Start | Essentials | Plus | Advanced | |
| Price Starts at | $8 /month | $12 /month | $17 /month | $180 /month |
| Users up to | 1 | 3 | 5 | 25 |
| Features suitable to | Freelancers and micro-businesses; beginner accountants or non-professionals | Small businesses | Businesses needed inventory and project management | SMBs (small to medium size businesses) |
Peachtree (Now Sage 50cloud)
| Pro Accounting | Premium Accounting | Quantum Accounting | |
| Price Starts at | $33 /month | $52 /month | $87 /month |
| Users up to | 1 | 5 | 40 |
| Features suitable to | Solopreneurs and micro-businesses | Small businesses | MLBs (medium size to large businesses) |
In addition to their monthly subscription fees, they have extra costs for their add-ons. However, despite their sneaky charges, both are scalable, so if you happen to start small, you can easily upgrade at any time.
Ask yourself:
Which features do I need to run my business?
What type of business am I running?
How many will use this tool?
How much can I spend on this?
You know what's best for your business, and these questions can hopefully narrow down your choices.
FAQS
Are they available online, or do you need to install them?
Yes, QuickBooks is cloud-based while Peachtree, a.k.a. Sage 50cloud, is not. Peachtree only had cloud-connected features such as its automated bank reconciliation. So you need to install Peachtree.
Can I upgrade/ downgrade my plan?
You can upgrade both accounting software at any time. With QuickBooks, you can also downgrade.
Can I transfer data from my current accounting software?
Yes, both Peachtree and Quickbooks have a migration feature that allows you to import your data from any QuickBooks version for free, vice-versa. As for other accounting software, you can contact their customer support for more information.
Bottom Line: Peachtree or QuickBooks Online
By now, it is clear that QuickBooks has more yay compared to Peachtree. Its design, features, and accessibility adapt well to today's world. It is suitable for small businesses with only a handful of employees.
However, we shouldn't underestimate Peachtree's advanced accounting features and transparency in calculations. Its scalability also works best for medium to large-scale businesses or fast-growing businesses.
But it doesn’t matter what we prefer but what you think is best for your business. Only you can fully determine which will contribute to the growth and success of your business anyway.
Be in the loop with Unloop for more interesting reads like this one. Do you want our expert opinion on all things financial? Please consult with us today!