Peachtree vs. Quickbooks accounting software

I am currently using Quickbooks for another business but not using it for my ecommerce retail music book business. I'm tracking everything manually at this point but am trying to make a decision on accounting software and the inventory aspect is my main area of concern. It seems that Quickbooks' lack of costing methodolgies (uses average cost only rather than LIFO/FIFO options) is a serious drawback since our product costs do fluctuate from time to time. In my research of Peachtree, I see that it is more flexible and allows other cost methodologies. Can anyone else share your experience in regard to this issue tell me about any other accounting software that you might recommend for a small retail business? Thanks.

I haven't used PeachTree myself, but here is a review of it.
http://www.smallbusinesscomputing.co...le.php/3367511

Depending how on tightly you want to tie in your e-commerce operation with your accounting package, you may want to take a look at NetSuite. It's a Web-based app, so you'd how to be comfortable with that type of hosted product.
http://www.smallbusinesscomputing.co...le.php/3405611
--Dan

We are an ice cream company that manufactures and sells via both wholesale and retail. Currently we are seeking an integrated solution with an accounting software and our new POS (point of sale) software.

Our POS has an excellent and extremely detailed database of all inventory that comes into the plant tracks it through to sales, plus both retail and corporate customer tracking. It generates POs for our wholesale accounts and tracks receipt of our ordered items. It links all of our retail stores. Also our accounts receivables from our wholesale accounts. We can pull detailed reports that we need not just for our internal use but also for FDA.

Ok great right but...

We were using Quickbooks but daily receipts, AR, tax and current value of our inventory daily had to be entered manually. We are considering Mybooks. Have not received an email response yet to our question about importing daily data. Our POS (6th Sense) operates on a MAC/unix network. It can export to any number of industry standard formats.

Help we are looking for something not just for today but that we can continue to grow the company. We also do not want to spend $10,000 to import daily data if we can help it.

Thanks,

I have set up several online businesses to work directly with Quickbooks. It works well as far as order processing and inventory management however there are some limitations. If you have more then 5000 products or if you receive more then 100 orders a day I would suggest a more robust accounting system. Quickbooks pro & enterprise work real well if your under those thresholds.

I have a several cleints running an online store both wholesale and retail as well as point of sale all integrated into a single company in Quickbooks.

Brian

Joe, what's your affiliation with SAP Business One?

Joe
Like you I to sell solutions to SMB marketplace. I would be interested in taking a look at the solution to understand how competitiive this new solution is compared to others we sell. Can you tell us do you have any cleints who currently are using this SAP solutions with ecommerce module? If so Can you please share the URL so we can look at the shopping cart functionality? Also I would be interested to get competitive pricing on the solution. When I requested information from SAP it was like an interrogation process from siberia. Can you give us a standard license price for the software and ecommerce module?

In addition does SAP offer a reseller program. I would consider signing up as a partner if the discounts were good. What discounting teir do you operate on with SAP?

Brian

Joe if its true that you have "several cleints" using their ecommerce module please provide a domain / URL so we can view the sites as samples. The more example sites the better

As well please give us some ideas on pricing for the software. Surely if your reselling the software and your out promoting yourself as a solution provider then you must have some details on Pricing. IF the solutions are priced in the right range for SMB then its worth a look. If the liciensing is too expense then its not worth the time. Please share the pricing with us all to see.

Very timely question for me personally. I am starting a new biz (hearing center) in one month and have not decided on what accoutning software to use.

I have a 2-person office and will be selling hearing aids, supplies, batteries, etc. In addition I will working with numerous insurance companies submitting claims and what have you.

I do not think I will need the full-blown version of Quickbooks or PeachTree but I need SOMETHING. This is one area I know nothing about. I've heard that QuickBooks is a more seamless program when it comes to integrating with existing software programs and is a bit easier to work with when backing-up my data. That's about the extent of my knowledge when it comes to this side of the business.

I would be interested on hearing from those who have worked with both systems (pros and cons of both)

Thanks for your time.

Peace,

Ben

Ben,
I've worked only with QuickBooks Pro, but find it quite easy to use -- though we had our accountant set up our Chart of Accounts and basically get the system ready for us. Intuit does offer QuickBooks Simple Start, which may be what you need.

Peachtree also has a strong base of users and it offers First Accounting. And Microsoft is shipping its small business accounting application this fall, which is supposed to be tightly integrated with Microsoft Office. Since you're starting from stratch, you may want to give that a look, too.

If I were you, I'd check in with my accountant or bookkeeper and ask what he or she recommends. Many times, accountant prefer a particular program and life will be a lot easier if you are in sync.

hi guys,
I'm intern in Gects, a Microsoft value added resseller.
I'm doing a research work on Quicks books and Peachtree and would like to know any of you have outgrow Peachtree for quicksBooks.
If it so, what was the limitations you came accross using Peachtree?

I am currently beta testing a new program which is very promising. It's called OfficePax and it offers shared contacts shared calendar email timesheets invoice management and much more. Check it out!
http://www.officepax.com

Hi,

If you are a small business owner requiring 2-3 user license then I would suggest Quickbooks as it is very easy to use, you get plenty of accountants who know how to use quickbooks and get you started.

If you are looking to have e-commerce websites then make sure to go for hosted solution to keep your cost at minimum and the decision should be based on whether that e-commerce software has capability to integrate with Quickbooks for orders export.

You can also consider to evaluate MS small business accounting (coming soon) but I wouldn't go live with it just to make sure that it is "bug free". Once you outgrow this solutions then you need to re-evaluate for integrated software like Net Suite ...

Your best bet would be using Quickbooks to get started, also check this website http://www.2020software.com for evaluating accounting softwares.

I would agree with most elements of the last post except the part about going for a "hosted solution". How does a hosted solution offer any advantage over a solution that is not hosted?

To be honest there are a number of rants in communities about "hosted solutions" Basically you put all your eggs in the "hosters" basket and leave your entire business to potential disaster should the hoster "go out of business", "be purchased by a competitor", "discontinue support for the solution as they migrate to new technology" there are a number of reasons why a small business should not go with a hosted solution. Its not a feature its a potential disaster.

Hosted solutions do not cost less to operate then other non hosted solutions and consider that when it comes to cost a merchant is at the mercy of the hoster for many items. An example would be Merchant accounts which many hosted solutions insist that you get a merchant account through the hosted solution provider at a rate which is much higher then the normal. I personally have seen hosted solutions chargeing 2.5% higher then what a merchant could have received had they shopped for their merchant account. In many cases that is a tax on profit which can amount to many thousands of dollars in a year. Also Many hosted solutions charge by transactions, charge by number of products, charge by month and charge by volume of orders.

So be aware that there are many great solutions available to a merchant. Some work with accounting software, some with shipping providers and others with merchant account providers. IF your going to be a successful merchant you have to think through all aspests of a tranaction including the costs for a transaction and then choose a solution which matches your business needs.

Beware of hosted solutions that dump their license fee costs to cut a deal. They only cust their license fees because they know they can recover that cost and make more off a customer from other hidden fees.

I hope that helps.

Brian

Hi,

Well I agree with your points on hosted solution, let's assume a business owner buys a in-house hosting e-commerce solution and in order to do so he has to plan for the following.

a. Hardware
1. Server - $$$$
2. Internet connection - atleast DSL/Cable with dedicated IP address - $$$
3. Network Management - $$$

b. Softwares
1. OS - $$$
2. Firewall - $$$
3. Backup plans - $$
4. Maintenance against virus, spam, hackers etc - $$$
5. Credit Card softwares such as Payflow Pro/Authroize.net etc - $$$

Oops I forgot to add the most important thing "Time" the business owner got to find some valuable time to setup the hardware and software mentioned above (remember he is just 2 employee size company OR he has to spend $$$$ for hiring consultants to setup the above)

Now should the business owner figure out all of this OR should he focus on his core values, i,e business ?

So there is Pros and Cons in both ways, identify what you have and what you can afford and then move forward. I have worked on both kind of solutions, of course "one size doesn't fit all" and hosted solution may not fit all business owners neither hosting at your own location may not fit everyone ...

Are you offering it for beta testing...ie, are you affiliated with the company in any way, or are you testing the software in beta form to see if it's right for your own small business?

I used to love QuickBooks for not only its price, but also ease of use. Then I realized it has many problems all together, so I fell in love with Simply Accounting. Now I belive I am using the best accounting package of them all. It is just as easy as quickbooks and almost the same price but far more powerfil like Simply Accounting and Accpac. I am sure you will grow to love it too.
The thing I like most about it is the fact that is automates most of the accounting practices and does not require you to "double enter" data between software packages every day or every week.

here are what they have to say about it:
http://darwinproductions.net/Present...eEvolution.xml

http://darwinproductions.net/Present...sEvolution.xml

I will never turn back.

It'll be interesting to see what Microsoft's new accounting software can do. I heard it's due out this fall. Given Quickbook's deathgrip on the accounting market, plus intense competition from Peachtree...and other apps like Simply Accounting, MS have its work cut out.

Anyone have any preferences regarding Web-based accounting software...like Quickbooks online edition...versus desktop-only software? Pros? Cons?

Bueller? Bueller?

I will bite my tongue regarding your question but I will comment but say however that it will be interesting to see what Microsoft does with the accounting industry. Normatly Microsoft products don't establish any clout until version three anyway. None the less it will be entertaining to see what they do.

Personally, I don't think Microsoft will lure away existing QuickBooks users. However, where Microsoft will attack is with the millions of new small businesses that launch each year.
I hear the integration with Office applications and Outlook is pretty slick. It will be fun to watch this play out.

Regarding QuickBooks Online, I really don't think Intuit knows what to do with it. It still seems like a well-kept secret. That's a shame because I think it's perfect for small business owners. It's so convenient to get at your accounting app from home. And let's face it, data is far safer at Intuit's data center than on a computer in most small businesses.

Thick Vs Thin client or in business terms desktop Vs Web based, well looking at the current trends web based is the way to go, easy to deploy, maintain, easy to develop and make changes to flow and more important you can access it remotely through browser unlike in desktop you have to use citrix or remote connectivity so "Web based tools will rule the planet moving forward ..."

MS "project Green" is the code word for the new accounting package that will be launched combining the best of best software of Great plains, Acc Pac and others which MS acquired few years back ...

I would say it would be integrated heavily with MS office and outlook for CRM activity and its would be web based for sure and they would have addressed breadth and depth, they would sell every piece as a "service" just like your cell phone services you want SMS add $2 per mth something like this ...

Desktop drawbacks they can't release faster especially if it is integrated product line and patching up release/patches is difficult unless smart download capability is implemented which seeks out for any updates and downloads and installs by itself ...

Drawback of web based is its usability you can't use great UI tools like Grid component etc and may not get that rich interface as you get in desktop but again it is going through some innovation such as AJAX programming used in Google's Gmail to give a better Usability experience ...

Final words, look fwd for MS Project Green (Green? $$$ color) they are definitely to kick a$$ QB, Net Suite and others (of course they have marketing budget to do so ...)

For more info on ProjectGreen
LINK: http://www.eweek.com/article2/0,1895,1850290,00.asp

When we were evaluating accounting systems our CPA referred us to a company named Silicon Digital Systems. They provided a very clear comparison of Peachtree, QuickBooks, Great Plains and the new Microsoft Office Small Business Accounting 2006. They analyzed our operating procedures, current accounting systems Peachtree and ACCPAC (which is NOT owned by Microsoft as someone earlier had stated it's owned by ACCPAC International/SAGE Corporation) all of our accounting and daily business reporting needs and eCommerce and Database requirements.

After spending considerable time and money with "hardware" dealers, networking consultants and other non-qualified computer consultants we finally found this company SDSI. Because they are a certified Microsoft Business Soltuions Partner (they know Great Plains and the new Microsoft Office Small Business Accounting 2006) and they're also a registered QuickBooks Professional Developer a certified Simply Accounting developer and a registered Peachtree Professional developer with SAGE.

I wanted to post this message to spare some of you the wasted time and money on computer hardware and software "dealers" who just push products like a retail store. Our company needed a very strong technically saavy business accounting systems consultant that also had a very strong "accounting" background. And what I've found is that this is very hard to find.

Once SDSI made the recommendation to us for our accounting system they also provided the complete data conversion services from our old Peachtree and ACCPAC accounting systems into QuickBooks Enterprise 5.0. (Peachtree to QuickBooks and ACCPAC to QuickBooks) They're now testing our newly developed eCommerce site which is linked to eBay and Amazon "Stores".

You can contact the company at (425) 898-8417 or by their website at http://www.SiliconDigitalSystems.com/Dataconversion.

By the way the link to the new Microsoft Accounting software is http://office.microsoft.com/en-us/FX011956881033.aspx.

I sure hope this helps you as much as they have helped us.

Tye C.
VP Operations

Tye,

Thanks for sharing your experience...sounds like something we can all benefit from.

I have to admit to not testing it personally, but I like the fact that Intuit just announced that its Enterprise 6.0 product is now based on a SQL database and supports up to 15 concurrent users (it has been limited to 10). They also claim that it's three to five times faster.

I think one of the problems with QuickBooks is that it has been easy to outgrow it. This may help businessess that would have had to migrate to another accounting platform.

Anyone out there beta test the new QB enterprise software? I'd be curious to hear reactions.

Well today my new MS Small Business Accounting arrived today and I'm going to install it. I am migrating from Quickbooks due to a lack of support and flexibility on the part of QB, and the fact that they are more interested in selling me new stuff than to support the stuff I already bought. If anyone else is in the process of this migration, feel free to contact me with ideas or questions!<p> I was never able to do the importing and exporting properly to get good automation with my ecommerce websites, and with any luck, I should be able to do that now or will go down trying. I feel that I shouldnt have to spend all my time on the computer, and with luck, this solution should do the trick. I may document the struggle on my website if it gets interesting. Any software I develop is free to anyone who wants it... no warranty! :)

John ka0osk (MSSBA/OsCommerce/UPS/DHL/ebay?/POS)
www.midwesttent.com

I'll be very interested in hearing what you think of MS Accounting....I don't know anyone who's used it yet. Keep us posted, will you?

My first impression is: MSSBA is still a work in progress. In fact, even though I got the newest version I still had to update it on MS.com to add some needed functionality. Of course this is import related, and I realy havent started ledgerizing etc. I am hoping MS is reactive to customers requests, and if they are they could seriously give QB and PT a run for thier money.<p> Here is a weird one: It wont import transactions from MS MONEY!!! That would seem a very important omission, as many businesses move into their first SBA pkg from programs like Money. It does import from Banks with export portals, so at worst a user would have to just add ledger comments etc. It remains to be seen if it fixes my QB problems. Inventory import, primarily from excel would be nice....I have more than 10,000 inventory items on my various sites and I will NOT enter them manually! I'll find out tonight about that. Now if I can add the right ecommerce related functionality using VB.NET......

John ka0osk www.midwesttent.com

Importing inventory seems to be a sticking issue with other programs. Why don't sw companies make it easier -- is it so complicated or are they afraid of losing customers if they making moving data between different programs easy?

We originally used Juno with some success. Once we got bigger we moved to Accpac (you really can't outgrow accpac). We use ADS - we're located in the US - and so far so good.

We have used QB for 8 years, and last year upgraded to
the Enterprise edition.

We have the maintainance agreement and find that we can
solve even complicated problems over the phone with them,
at night and weekends, no problem.

One resource that I don't think has been pointed out yet
is your local accounting firm. They often have staff members
who are experts in accounting software and can help you
to find the best one for your needs.

best regards
wiz

Quote:

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Originally Posted by bcrogers

I am currently using Quickbooks for another business but not using it for my ecommerce retail music book business. I'm tracking everything manually at this point but am trying to make a decision on accounting software and the inventory aspect is my main area of concern. It seems that Quickbooks' lack of costing methodolgies (uses average cost only rather than LIFO/FIFO options) is a serious drawback since our product costs do fluctuate from time to time. In my research of Peachtree, I see that it is more flexible and allows other cost methodologies. Can anyone else share your experience in regard to this issue tell me about any other accounting software that you might recommend for a small retail business? Thanks.

---

I have used both software, and I used quickbooks for about 10 years, but I moved to Peachtree last year and I find that it is more user friendly and the the staff will help you for a longer period of time (6mos) vs. (1 month from quickbooks) You will find that there is a lot of 3rd party software additions to quickbooks but Peachtree is closing in fast since Peachtree was taking over by Sage some years ago. I am a business advisor and I also use ACT and the two intergrate seamlessly together. A lot of my clients are in the retail end like yourself and I recommend Peachtree all the time. I personally like Peachtree better and It is affordable and worth a try.

Personally i prefer quicikbooks, but that could be because I was trained on it.
I do find it pretty easy to operate and make corrections if I mess up.

Im certainly glad I no longer need to handwrite all the business cheques i used to manually write out though!

I do find that cheque costs are a little higher on laser cheques compared to the manual cheques, but i did find a new cheque supplier that helped me reduce those costs as well.

chequesnow.ca

My bookkeedping trainer referred me to them. Theyve helped reduce our cheque costs and quickbooks has helped reduce my bookkeeping time.

I'm new and looking for a bookkeeping software that is specific for ecommerce. I just signed up for quickbooks online, and think it has more to do with someone who owns a physical business such as a "handyman service" etc. I am selling parrot and bird supplies online (or will be as soon as I can get everything in place).

Any suggestions appreciated.

I'm chasing everything manually at this point but am attempting to make a decision on accounting software as well as the inventory aspect is my main area of concern.

Currently, I'm using Point of Sale software from RetailExpress and I'm happy with the inventory management and stock control feature it has.

I think the differences between the two systems are not all that glaring. Peachtree probably offers a little bit more in the way of "accounting" whereas QuickBooks is more of a small business manager.

A pretty good comparison I saw recently of their differences is one from the Software Advice website. I think they might show a little preference for Peachtree in their review, but otherwise I agree with it.
http://www.softwareadvice.com/articl...books-1062211/

For what it's worth I use QuickBooks, but that is because I am used to it and my clients more often use it too.

Here 's the full scenario: First my company (LLC with Subchapter S ) is still not producing enough profits to pay myself or my partner on a regular basis. In this case, some months we make little extra, so we withdraw some money, and other months where not much profit made, we don't withdraw any funds. Some one mentioned that I could make a owner's withdraw account in the equity, therefore when I pay myself my bank funds are credited and my equity owner's withdraw account is debited, which mean my bank funds decreases and my equity owner's withdraw funds increases. Also, at the end of the year I could transfer all the owner 's equity funds to my retained earning and pay taxes on that total. Would that be an accurate and correct accounting method to pay myself without having a payroll and dealing with the payroll headache and its extra tax expenses. Thank you in advance.

I received good insights or feedback about quickbooks. many have sorted to this inventory scheme, but nowadays there are redbeam.com that is used by those who engaged in Business.

Quote:

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Originally Posted by bcrogers

I am currently using Quickbooks for another business but not using it for my ecommerce retail music book business. I'm tracking everything manually at this point but am trying to make a decision on accounting software and the inventory aspect is my main area of concern. It seems that Quickbooks' lack of costing methodolgies (uses average cost only rather than LIFO/FIFO options) is a serious drawback since our product costs do fluctuate from time to time. In my research of Peachtree, I see that it is more flexible and allows other cost methodologies. Can anyone else share your experience in regard to this issue tell me about any other accounting software that you might recommend for a small retail business? Thanks.

---

Quickbooks is an excellent accounting software. However many small business owners who try to do their own bookkeeping with Quickbooks soon find it is a lot more difficult than the commercials make it sound. One needs to be aware of how an entry will affect the financial statements, especially if that entry is in a previous month. If an owner does not understand double-entry accounting, it is best if he finds a bookkeeper who is familiar with quickbooks. However, if he is determined to do it himself, many bookkeepers will train, and provide periodic reviews, for a consulting fee. This is probably the most economical solution, but not always the most headache-free. If you need additional information you may contact me from my contact page at www.ablebk.com.

I was reading your post and thought you were talking about AccuPOS POS Software until I saw that you were Mac Based. I am PC based but had some of the same issues with deciding between Quickbooks and Peachtree. For my small food business Quickbooks was ultimately the best for me but I can see how it would be different if I was bigger and had Wholesale as well which I don't. Perhaps this wasn't too helpful but I do think you need to choose your accounting before anything else as is that is where your money is. You should put no limitations on yourself when deciding, even if it means changing other software down the line.

Clara