Posted: May 25th, 2022
Recommendation of possible improvements to the package
Compare and contrast QuickBooks Software
Implications of new developments
Accounting Information System ( Peach Tree )
Peachtree software is considered to be an accounting system in which small businesses are able to can manage all of their books. It is interesting to note that this Peachtree software takes a more complex and difficult method and reconstructs it into an easy procedure that anyone is able to utilize. Peachtree accounting software was created sometime during 1976 by The Computer System Center of Atlanta, Georgia, and was then bought out by Retail Sciences which took place the same year. When the release of IBM’s PC came out in 1981, bit too much long after that Peachtree software was then sold again but this time it was to Management Science America (1981), Intelligent Systems (1986), Automatic Data Processing (1994) and The Sage Group, plc (1999) (Hogan, 2014).
Peachtree was the first accounting software developed for the Windows Operating System, in 1991, and then in 2001, presented the first Internet-based accounting service, which was called the Peachtree Web Accounting. Then sometime throughout 1998, Peachtree Office Accounting was let go and was acknowledged as the first accounting software to cross point with Microsoft software, together with Word and Excel.
In 2010, Peachtree accounting software introduced a lot of different versions that offer changing kinds of services including basic accounting, payroll, purchasing, inventory control, financial reports, bank statement settlement and to just talk about a few. Also, Peachtree 2010 merchandises and bundle packages span in price from $58 for the basic Peachtree First to beyond $6,000 for the Peachtree Quantum description.
Helpful for Organization
By following the directions delivered, a person will be able to set up their business in no time because it is that easy. If they follow direction right, they will be able to make their journal entries, and look at the financial statements that the software produces. It is beneficial for any company to be able to utilize the Peachtree software for the reason that provides correctness that manual bookkeeping is not able to do. The software makes that proper journal entries are done right and that all accounts are balanced correctly. Research shows that the use of Peachtree requires simple computer skills; on the other hand, a person must be well-informed in accounting to make the correct journal admissions.
Peachtree permits you to enter the data one time into the correct journal, and then it posts everywhere else for the company. The business will be able to enter the original entry in cash payments, cash received, or in the typical journal. For any business, it will save them a ton of time and headache (Fineberg, 2012). Peachtree software will also make altering and closing entries for the business at the end of the phase with the push of a button. The software is really user friendly. Peachtree software also generates statements of retained earnings, income statements, cd balance sheets, and cash flow statements (Martin, 2014). Peachtree software will keep track of and print invoices (both sent and the invoice numbers of those acknowledged), the software will likewise print collections letters.
Peachtree software be used to keep track of customers and particular customer attributes, in addition to payment and purchase history, and it will likewise keep a list of workers, employee information (social security numbers, phone numbers, addresses, and tax withholding info (Solutions, 2014). The software will arrange and print payroll checks (it will perform task such as take away the taxes and stuff for the business). Peachtree software has several diverse arrangements of any printable document (sales invoices, purchase orders, salaries, regular checks for costs, etc. The software is one of the most user friendly accounting software packages in the marketplace.
Critical Assessment of Peachtree software
Of course this piece of technology is not perfect because there have been some complaints with the Peachtree software. The most everyday complaint is that the structure of the database is not the best it could be (Hogan, 2014). This is particularly true if the business has an online business and the corporation is trying to bring in the orders off of the business website. The preceding website software that was incorporated in Peachtree was in recent times discontinued. Customers who use Peachtree have also had some trouble merging consumers together.
Another criticism that several users have is that Peachtree is difficult to put in. It necessitates the user to have widespread knowledge of all the features Peachtree has so as to customize the arrangement. Furthermore to this, numerous of the features those Peachtree suggestions are believed needless by its customers. On account of this, those customers who purchase Peachtree with pointless types feel they have paid for services that they do not require. One of the key determining factors for small business owners in buying Peachtree software is the price. The trade value for the software is around $400, nevertheless can be acquired later in the year for approximately $300.
Another shortcoming of Peachtree Accounting consists of the sheer volume of features obtainable. Peachtree Complete Accounting take account of components to manage accounts receivable, payroll, time billing, accounts payable, banking, inventory, job costing, general ledger, reporting and fixed assets (Fineberg, 2012). A lot of small businesses need simply a few of these features to accomplish their businesses. For example, a business with no workers does not need to utilize payroll. An enterprise that only trades merchandises for cash does not need to accomplish its accounts receivable. Also, the business owner buying all of these features whether the business may need them or not Is fit for is Apple Inc.
For Apple, it is a great way to save money that would normally go toward paying a bookkeeper. It would be a good fit for Apple because they would not need to be heavily trained in finance to use Peachtree software. Apple would find Peachtree easy to use and maintain the business files. Once Apple becomes accustomed with the software, it becomes much stress-free to handle for the company. Updating databases and files with Peachtree would be quite simple for Apple. For Apple, Peachtree software would provide an audit trail for its users which would help the business prevent potential tax audits and future difficulties with the IRS (Ensmenger, 2013). This can potentially save the user numerous difficulties and a great deal of money from tax filing mistakes.
One disadvantage of using Peachtree Accounting for Apple is that it requires the industry owner to arrange the software for use in the business. To configure the software, the Apple owner needs to choose what features she wants to expenditure. Apple will need to run the setup wizard for each feature on the business’s computer. If Apple owner lacks technical knowledge, this process can be confusing for the business.
Recommendation of possible improvements to the package
There are quite a few recommendations when it comes to the Peachtree software. One of the things is that Peachtree does not offer the range of monetary, supply chain, and even HR functionality usually obtainable by mid-range accounting systems. This is something that they could change in the future. Instead of bolting together a system of dissimilar applications, you can move to a combined solution that meets more difficult needs without compelling the business to spend unwarranted time managing IT necessities. Nevertheless, Peachtree could be more program than the business may need if they sell services wholly, or only one or two individuals actually need simultaneous access to the business books. Peachtree’s customer support is also very slow to answer the phone so it would be wise for them to invest into a quicker customer service. Many customers have to stay on hold a long time when they are called and most are not happy about that.
In short, they also need to change their account identifiers because there can be some issues with switching back and forth according to some customers. Peachtree software should also improve the duplicating transactions process because some businesses find it to be rather slow. The ledger appearance needs to be updated because it has the inability to change on its own for some reason. Checking accounts need to be improved as well. They have three common means to disburse funds: automatic drafts, electronic funds transfers (EFTs) introduced at the time of buying but sometime the transaction does not go as smoothly. The improvement that needs to be made would be that some customers would like to be able to click that they are doing an EFT and automatically get a unique reference number for their EFTs (Hogan, 2014). It needs to be noted that PT does allow a person to check a box showing that there is some an electronic transfer. But then again that seems to gray out the check number box which seems to be a problem.
Compare and contrast QuickBooks Software
The research shows that QuickBooks and Peachtree are some of two most popular accounting software programs on the market. Both QuickBooks and Peachtree are used by businesses and people in order to assist them in managing their finances. All of these programs will be able to assist their business when it comes to taking a more role that is active in managing your finances, and balance the services of a professional accountant while still being able to give dependable bookkeeping implements to aid the business to run more professionally. Even though both programs offer very similar features and benefits, there are some cons and pros of consuming one program over the other. Research shows that the worst things about QuickBooks are the incapability to erase history totally, obnoxious marketing, and the incapability to have more than one ledger open at a time (Fineberg, 2012).
An advantage of QuickBooks over other accounting software programs, as well as Peachtree, is the quantity of help it gives out business owners. For instance, QuickBooks comforts the business easily setting up your corporation’s profile inside the program, in addition to putting transactions in position, among other things (Ensmenger, 2013). QuickBooks does all of this with very user-friendly borders and pictures to guide the business along. Moreover, QuickBooks offers an “Interview” style for setting up businesses that takes you through 21 uncomplicated and separate steps that are stress-free to follow. Numerous of these steps involve basically a “yes” or “no” answer or just picking out the industry the business is in from a list.
The clearness of computations and transactions within Peachtree is much more superior to the transparency within QuickBooks. This means that it is much simpler to see, for instance, which accounts currency is coming from and which accounts it is going into. Research shows that this can not only save the business time, but likewise makes it easier for the business to more precisely screen their finances. Another advantage of Peachtree over QuickBooks is the capability to delete the entire transaction history and other data of specific companies you might be doing business with (Martin, 2014). Even though this might seem like an unimportant advantage, being able to effortlessly get rid information for a corporation that they are no longer involved with can save a lot of time contrasted with canceling every record and business deal one at a time.
Further research also shows that the single-user version of both programs expenses is just at $300. On the other hand, the multi-user version of QuickBooks Premier is unevenly a couple hundred dollars beyond the multi-user description of Peachtree Complete, and a few hundred dollars below the multi-user description of Peachtree Premium. Also, Peachtree Premium is a software the gives out business-detailed type of features and serial number inventory management, while Peachtree Complete is not able to do that function. QuickBooks Premier likewise provides business-specific features, in addition to automatic check-signing, but then again does not deal with serial number inventory organization.
Another benefit of QuickBooks and Peachtree is the capability to erase the whole transaction history and other data of detailed corporations the business might be doing trade with. In spite of the detail this might appear to be like an unimportant advantage, being able to effortlessly get rid of the information for a business that they are no longer a part of can save a lot of time as different to deleting every transaction and record one by one.
Implications of new developments
When it comes to business, most places processes are automated by means of some kind of high-tech software. As the rate of business and technology are changing rapidly and accelerating, faster than ever, it becomes progressively challenging to make the most of the business worth of those applications while decreasing costs and risks. IT executives of today will need to become “masters of change” IT executives are adopting new developments such as the BTO software and services in order to optimize application quality, performance, and business obtainability gaining strategic control and visibility over planned and unintended changes to their applications and fundamental substructure.
Embracing new type of developments has changed the way many do business and many enterprises are learning the hard way that outsourcing is an issue in the hopes of declining prices often boomerangs. At the moment, prudent executives are making “strategic sourcing” choices founded on how to use the right individuals, procedures, and technology with the correct combination of external and internal teams and technologies. However, the challenge that most CIOs are currently facing now is how to successfully achieve outsourced IT initiatives in order to optimize industry value and decrease risk.
It is clear that the Peachtree software is very beneficial even though it has its advantages and disadvantages. As time goes on, it is clear that business large and small is turning to this new innovation in order to make life easier in businesses. It is obvious that these inventions are proving to be very effective in the long run, even though they need to be perfective in order to reach the status of making sure that the customers are pleased and the businesses are running smoothly.
Ensmenger, N., 2013. “Oral history interview with Ben Dyer.” [Online]
Available at: http://conservancy.umn.edu/handle/107274
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Fineberg, S., 2012. Peachtree Now Officially Sage 50. [Online]
Available at: http://www.accountingtoday.com/news/peachtree-sage-summit-business-intelligence-small-62668-1.html
[Accessed 14 May 2014].
Hogan, M., 2014. Review of Peachtree’s Accounting Software. [Online]
Available at: http://www.entrepreneur.com/article/159916
[Accessed 15 May 2014].
Martin, L., 2014. Peachtree Accounting Information. [Online]
Available at: http://www.ehow.com/facts_6832466_peachtree-accounting-information.html
[Accessed 15 May 2014].
Solutions, F., 2014. Expanding Possibilities. [Online]
Available at: http://www.flatworldsolutions.com/financial-services/peachtree-accounting.php
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