By Suzy Payne Rabb
I can’t tell you how many times I’ve been asked to discuss the differences between Sage Peachtree and Quickbooks or other small business entry-level accounting solution. It’s also a topic I see discussed over and over in various forums. Needs vary business to business, industry to industry. What you pick should be determined by your needs. Here are a few reasons why I picked Sage Peachtree:
Sage Peachtree has a more sophisticated inventory system than most other entry level solutions. It provides true and accurate FIFO costing and also provides serialized inventory features at the Premium and Quantum levels. Set-up of assemblies is easy and revisions are allowed. When set-up correctly, the automatic costing is flawless.
Built-in Financial Statement Designer
A lot of users don’t use or even know about one of my favorite features–the Financial Statement Designer. This designer is built right into the core product and can deliver practically any format desired. We’ve been able to emulate some very high-end financial reporting systems, even adding some key performance indicator stats to customized formats.
You can setup Sage Peachtree to allow changes in prior periods or you can set it up to block any change to a prior period transaction by user. I work with all kinds of users. There are some users who definitely need and want this level of control. But, there are others who don’t. If you are the owner, the accountant and the only user, sometimes too much control can cause more problems than it solves. With Sage Peachtree, I can deliver either.
Incredible Cash Flow Analysis Tool
This feature was significantly enhanced several versions ago and now it is awesome. You can forecast cash flow from actual due dates or historical average days to pay on outstanding AR, AP. But, what you may not know is that you can optionally add or remove anticipated cash flows from recorded sales orders and purchase orders. At last look at the competition, Sage Peachtree’s Cash Flow Analysis was head and shoulders ahead of competing solutions.
All companies have to void checks from time to time. Voiding a check should not change a prior period’s financials and with Sage Peachtree, it doesn’t. Sage Peachtree does not touch the original check transaction, but instead prompts for a “void date” and creates a new reversing transaction on the date specified. Why would you want it to work any other way? At last check, voiding a check in Quickbooks changed the prior period financials. While you may think check voiding is a minor feature, you should avoid use of any feature that changes prior period financials.
These are some of the reasons I picked Sage Peachtree several years ago and stay with it today. In the coming months I will share more.
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