PEACHTREE – Which version is right for you?
Welcome back! This segment we will focus on the family of products offered by Peachtree. By the end of this 8 week communication, you will have a better idea of which product will suit your needs. Please understand, it is not my intention to rally for one product over the other. The choice is yours. I’m only providing the facts so that you can make an informed decision. So, let’s start with our next featured product. Peachtree, just like QuickBooks has many versions to choose from. Starting with the most basic version;
Peachtree First Accounting is for the entry level small business. If you’re ready to upgrade from your manual system, this is the best place to start. It’s very user friendly, and able to handle your basic needs.
Peachtree Pro Accounting is the next step up, offering multi-year reporting, flexible payroll management, real-time error alerts (a plus!), and cash flow management. This version is for the company who is just a step beyond the basic accounting needs.
Peachtree Complete Accounting is for those companies who have higher level accounting issues. With time saving functions, like recurring and memorized transactions, internal accounting reviews, and email alerts, your productivity will definitely soar. Complete also has multi user capabilities with over 125 customized reports and financial statements. This is definitely a step up from the rest!
Peachtree Premium Accounting is a more advanced higher level operating system. This version allows departmental financial reporting, multi-company consolidated financial statements, planning, budgeting, and forecasting. And get this. Premium comes with a report designer that allows you to create what-if scenarios. What a plus!
Last, but definitely not least, Peachtree Quantum is the most high powered comprehensive software in the line of family products. It has multi user capabilities for up to 30 local or remote users, and also comes with a Business Care Plan that includes one year of unlimited access to support.
Peachtree, just like its competition, offers an assortment of industry specific products too. Construction, Distribution, manufacturing, and Non-profits, complete with sample company files in each industry.
Join me for my next article, in which I discuss MS Accounting products.
Here’s to your success
QUICKBOOKS – Which version is right for you?
Many software packages come and go. Some are here to stay. For the next 8 weeks, we will review some of the more popular software packages used by small businesses. Our first feature is on the QuickBooks family of products offered by Intuit. Whether you are about to start a business, or already operating a business, QuickBooks is one of the most popular options available. Before you determine which version to use, first, due a thorough assessment of your needs (see my article titled “Which software is right for your company)
QuickBooks has several versions to choose from. For the new business owner, just starting out, you might consider Simple Start or Pro. These two will do the basic entries such as tracking sales and expenses, printing checks, and creating customer invoices. However, Pro has the capability to do more complex and detailed transactions such as tracking and managing inventory. From a cost standpoint, Simple Start is the least expensive.
The Premier version offers a line of specific packages for the following industries: General Business, Contractors, Manufacturing & Wholesale, Professional Services, Non-profits, and Retail. This version is the next step up from Pro. It includes additional features such as; business plan templates, forecasting sales & expenses, and customized industry specific reports. The Premier version is also packed full of templates for creating customized invoices and letters
At the top of the ladder is the Enterprise version. Think of it as the next phase of the Premier version, but on steroids. This version is truly powerful. It can handle up to 2 million transactions. Wow! What a data overload! With multi-currency capabilities, you’re able to add up to 30 simultaneous users on the system. This is definitely for the multi-million dollar company.
For the virtual novice, QuickBooks also offers you an online version. Complete access to your files regardless of location. Just simply log in with a password and everything is at your finger tips. Just as if you were in your own office. This version is great for those who travel. And let’s not forget Mac users (yes, they still exist). QuickBooks has a version for them also.
So here we have it; the family of QuickBooks products. But remember, no software is complete without forms and supplies. QuickBooks offers an array of supplies to help give your business an individual professional look. And get this; most versions come with a 60 day money back guarantee. So, if it’s not the software for you, just return it for a complete refund.
Join me for our next discussion on the Peachtree family of software.
Here’s to your success!
Which software is right for your company?
As a business owner, I understand the plight of trying to keep it all together while running a business. So much to do, in so little time. From project management, to marketing, to keeping “The Books”, one literally has to become the “Jack of all trades”. But is this effective? OF COURSE NOT! We all are familiar with this dilemma. So now, what about the solution? The first step is to take an honest assessment of your needs, from every aspect of your business, from the daily operations to financial management. What type of resources do you need to function not only on a daily basis, but overall?
Financial management, by far, is the most important aspect of running a business. Without managing this function properly; most businesses are doomed to fail. It’s a known fact that most new businesses fail within the first 2 years due to poor record keeping. The best solution for this scenario is to search for the necessary resources in order to properly manage your system. Whether you outsource or not, choosing the appropriate tools will determine the success of your system.
We all know that in this day and time, to keep your records manually, is not an effective practice. This method leaves much room for numerical errors, incorrect classifications, and missed entries. In this age of technology, it makes better sense to use a software package which is capable of handling your type of business and the level of information your company needs to process. Many factors come into play when making such an important decision. Such as company size, number of employees, systems support & maintenance, and features. Let’s take a closer look at what you need to consider when choosing a software package.
Company size
The software package that’s suitable for your company will need to accommodate the number of users who are designated for access to the system. The number of employees that your company has will help you to decide who should have access and for what reasons. Generally, upper management will need access for planning purposes, while staff employees, dependent upon their job description, will need access for daily processing. Also, you need to consider that as your company changes (i.e. increased sales, opening new divisions, hiring more employees) the software needs to accommodate the changes that your company will experience.
Amount/complexity of transactions
As your company grows, so shall the amount of transactions. And as your transactions increase, it’s also possible that the type of transactions may become more complex in nature. The growth of your company doesn’t have to be only related to selling more products or services. Other activities such as joint ventures, leasing of equipment, and creating new divisions are examples of growth, and will need to be properly reflected in your financial statements. The software package you choose must be able to handle complex transactions as well as typical everyday transactions.
System Requirements
Is your office networked or do you operate with stand alone desktops? Determine the specifications required to operate the software, but make sure its compatible in your environment. Be careful. Don’t choose a system that has more capabilities than you really need. You could end up paying more up front. Let your system grow with your company.
Features
Features such as online capabilities, banking interfaces, and integrative modules are very popular and add to the overall value of the package. Business owners are always looking for new and innovative ways to streamline processes. Consider a package that shows you how to make your work easier.
Training, support & maintenance
In selecting software, you must anticipate needing some sort of technical support assistance. It makes good business sense to spend the additional funds for support packages. Today, a lot of companies outsource to foreign countries, which can make the language barrier challenging to deal with. An alternative would be to select a company who has on-line support using some sort of chat profile. This alleviates trying to interpret during a crisis. Training options should also be considered. In person is most familiar, but on-line is becoming much more popular with its ease and flexibility.
Remember, take your time to carefully assess your needs, and base your choice on that! Nothing more, nothing less.
Here’s to you working smarter!