Managing bulk amount of account data on local machine without use of any additional software has now become a difficult and time-consuming task for enterprise users. Therefore, various applications for controlling and managing account details in different business fields are discovered. Such products are named as Accounting programs, which act as an accounting information management system. Some of such programs are Peachtree, QuickBook, Oracle E-Business Suite, etc.
Now consider a following scenario:
“An enterprise user has to decide that out of so many accounting products available in market which one to use? Which product will provide them ease in managing & controlling details of business?”
To troubleshoot this query, here we are going to take up a comparison between two accounting products i.e., Peachtree and QuickBook so that according to demand, one can choose a better tool to control and manage their business accounts, digitally. In this informative article we discover Peachtree vs QuickBook Accounting Software and find out which one is the best accounting software.
A Short Introduction to Peachtree and QuickBook Accounting Software
Peachtree and QuickBook both are widely used accounting programs to manage finance in an enterprise environment. These software provides an ease to accomplish numerous accounting tasks within an organization.
Peachtree: It was developed by Sage Software and is generally used in both small as well as medium-sized businesses. End users can collectively manage, supervise, operate and control various accounting tasks with help of this product and some of such tasks are mentioned below:
- Generating financial statements
- Regularly checking the Invoices
- Modifying accounting spreadsheets
QuickBook: It is Intuit Inc’s software solution, discovered for controlling payroll, inventory, sales, and other alternative needs of small business. Marketing tools, merchant services, products & supplies, and training solutions are features embedded with this product. Based on industry and its requirements, the product develops its solutions.
Comparison Between Peachtree and QuickBook Accounting Software
Worthwhile both these software provides similar benefits with useful features, but there are some pros & cons of using one over the other software. Therefore, following are different attributes, which demonstrate comparison between Peachtree and QuickBook:
System Configuration Requirements
- In case of single user, Peachtree requires processor of at least 1 GHz and RAM of 512 MB. Moreover, for multiple users, program needs processor of 1.8 GHz and RAM of 1 GB
- QuickBook requires processor of at least 1.8 GHz and size of RAM should be 256 MB for single users and 512 MB for multiple users. In addition, the size is dependent upon the package of product, which is desired by users.
Methods Used in Different Programs
- Peachtree manages inventory with help of LIFO, FIFO, serialized, and average costing.
- QuickBooks works only in average costing.
Ability To Use of Forms
- In comparison to Peachtree, QuickBook works well with its form use like utility bills, purchase orders, and tax document files. The GUI is designed in such a way that forms are resembled, as closely as possible.
Credit Card Processing
- Users can process credit cards with help Peachtree program, but for doing the same one will have to buy solutions for Sage Payment.
- QuickBooks also provides the feature for credit card processing, but it requires paying for a merchant account via Intuit (linked in Resources)
Modifying or Deleting Companies Data
- There is an additional advantage of QuickBooks over Peachtree i.e., QuickBooks software provides a feature to delete complete data of a specific organization (linked with a company using the product). The financial database of a company can be removed without any complications, which are no longer of any use
Product Versions Specification
- The Peachtree Premium provides industry-specific features and controls serial number inventory, whereas Peachtree Complete does not provides the same
- QuickBooks Premier is designed in such a way that with different management features, it also provides industry-specific features along with a facility to automatically check-signing. However, the program does not provides ability to perform serial number inventory