Accountancy for businesses is a necessary evil – needing to be able to manage your money in and money out is a must if your going to try and stay on top – the good news is that there’s software that can help you – the bad news is that there’s loads of it and it can sometimes be difficult to choose which one is suitable for you.
Peachtree accounting systems have been around for a while now - and like many accounting software offerings come in a variety of sizes to suit your needs. Peachtree (a part of Accounting Software giant Sage) provide the software in 5 stages, First, Pro, Complete, Premium and Quantum. Scalability is always important in business applications as you need your application suites to grow as your business does so the fact that Peachtree offers a clear path dependant on your business needs is a great first step.
The first application in their line, Peachtree First Accounting, is aimed at small businesses who may not have used accounting packages before. Accounting software can be quite daunting for those firstimers and Peachtree benefits from the variety of wizards (including a new company setup wizard) and setup guides in place to help you through the process - coupled with this there are a series (20 in total) instructional demonstrations to help - these cover key functions to ensure that you don’t get lost.
To further help the new user, the headache of setting up a chart of accounts is made easier by 75 sample chart of accoutns being available to select from (or create your own). There's also a handy check list to ensure that everything get's entered and setup that needs to be.
Once the system is setup there's the standard, General Ledger, Accounts payable, accounts receivable ledgers.
The General Ledger offers features such as extended accounting periods in a year - the option to keep transactions open, drill down account transactions ensures that you have visibility of what's going on and there's a series of reports at a single click to improve visibility.
Accounts receivable offers the usual functionality, tracking payments, managing customers balances and statements issuing invoices and credits - all via way of
drill down views which means the detail is always under your fingertips.
Finally the accounts receivable module provides the capability to track all your payments, and manage your cash.
It doesn’t stop there either - Peachtree first accounting comes with it's own reporting module with access to 35 customizable reports allowing you to view your business at the click of a mouse – another handy features sees that reports can be grouped which means you can have easy access to reports that you may run periodically (for example create a group called monthly).
Peachtree first is the entry software in the line and as such it doesnt have all the featuers that more advanced users may require - features like Budgets, Orders
(both sales and Purchase) and Payroll are left for the Pro and Complete releases of Peachtree. As such First Accounting is suitable for those looking to dip their toe in the water of accounting software or those just looking for a simple yet intuitive product to store their financial information in.
The plus points of First accounting are varied, firstly with Peachtree being Part of Sage software - the Peachtree line has an obvious pedigree, the setup is simple, the reporting and drill down features are welcome and the package overall is well suited to those that like to analyze and at only $69 it's a small price to pay.