Choosing the right accounting package for your small business is critical. You need it to be simple enough to use on a day-to-day basis, yet you need it to be powerful enough to provide you with all of the important business intelligence you need. Two software packages have worked their way to the head of the pack: QuickBooks and Peachtree. Let’s take a look at the two and see how they compare for small business.
QuickBooks: The Industry Standard
QuickBooks has been in the small business accounting software game for a long time, and it shows. In terms of raw features and functionality, it offers more than just about every other software package out there, including Peachtree. You can use QuickBooks to do everything from basic accounting to payroll to credit card transactions to financial reporting and more.
Perhaps where QuickBooks shines brightest, however, is in its interoperability. There are many apps and add-ins for QuickBooks that you just can’t get for other accounting packages. Third party support is huge, and helps insure that you get the kind of information you need from your accounting package.
Finally, QuickBooks has strong community support, meaning that you can almost always find someone to help you do what you need to do. QuickBooks ProAdvisors are experts in the software package, and readily available to help you get the most you can from QuickBooks.
Peachtree offers most of the same functionality and features that QuickBooks offers. 99 percent of small businesses will do just fine with either product in that regard. The one area Peachtree has been ahead of QuickBooks, historically, has been in the area of inventory. For example, doing inventory control with serialized inventory was a function that Peachtree offered that QuickBooks did not. (For that kind of functionality with QuickBooks, you need a third-party tool).
Peachtree doesn’t have the kind of support structure that QuickBooks has in the community. Many fewer CPAs are going to recommend Peachtree, largely because they’re just more familiar with QuickBooks. For some small businesses who rely heavily on outside accountants to handle things, that can be a pretty big deal.
The bottom line is this: for the vast majority of small businesses QuickBooks that does everything you’d ever want it to do, and you can enjoy plenty of professional support and third-party add-on options. If you have certain specialized needs like serialized inventory but don’t want to rely on an add-on for support, you might instead consider Peachtree.
If your business would like more information on the best software for you, please contact us.