Difference and similarities between two US accounting

Differences and similarities between two US accounting package bundles: QuickbooksV. Peachtree

This paper provides a sum-up of both accounting applications and the faculties available with each application. The internal controls available within the application are besides discussed, as are other factors ( such as cost, hardware demands, available studies ) . Finally, the advantages and disadvantages of both systems are compared and contrasted.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

Quickbooks, developed by Intuit Inc, was launched in 1992 and is by and large thought of as the leader in accounting package bundles, in footings of the volume of users. Quickbooks is available in a assortment of faculties, providing for all types of users, from free-lance workers to little concerns, to larger corporations with up to twenty users. The Quickbooks package is besides available as customized versions tailored towards different industries. The faculties are known as SimpleStart, Pro, Premier and Enterprise. In footings of cost, evidently the monetary value of the package differs across stores, but for the interest of comparing, the current monetary values on hypertext transfer protocol: //www.amazon.com will be used: Quickbooks SimpleStart costs $ 78.49 ; Quickbooks Pro 2008 costs $ 169.99 ; Quickbooks Premier Edition 2008 costs $ 319.99 ; Quickbooks Enterprise ( version 7.0 – for 5 users ) costs $ 2749.99 and Quickbooks Enterprise ( version 7.0 – for 10 users ) costs $ 4129.99.

Intuit Inc. has late launched a Quickbooks Online Edition whereby users can pay a monthly fee to entree the package online through a secure login system. This package as a service version of Quickbooks is merely available to those users with Windows platform ; Mac users are unable to entree this version of Quickbooks. This version of the Quickbooks package starts at $ 24.95 per month, via the Intuit Inc. web site ( available at hypertext transfer protocol: //www.proadvisor.intuit.com ) with different faculties bing more, and the maximal monetary value per month being $ 49.95 per month, or $ 599.40 per twelvemonth, for up to five users. Therefore, on-line entree to Quickbooks is by far more expensive than purchasing the Quickbooks Premier Edition 2008 standalone package.

In footings of the characteristics included in each Quickbooks faculty, the SimpleStart package allows users to track gross revenues, disbursals and revenue enhancements ; provides the installation for bring forthing bills and estimations ; produces studies and can let the user to work out Payroll information. In add-on to these characteristics, the Quickbooks Pro package allows users to track their stock list and to provide purchase orders, to download recognition card and bank minutess and to automatically dwell and publish revenue enhancement signifiers. Covering with Payroll is much easier with the Quickbooks Pro package, as this faculty allows users to fix and publish revenue enhancement signifiers for employees and offers the installation for direct sedimentation of necessary payments. In add-on to all of these characteristics, Quickbooks Premier besides allows users to see unbilled employee clip and disbursals on one screen, to be after for the hereafter by making a concern program, to make gross revenues orders and path back orders, aswell as supplying industry-specific characteristics. The Quickbooks Enterprise package, in add-on to all the characteristics already mentioned allows the user to make customizable studies.

In footings of the system demands for all of the faculties of the Quickbooks package ( 2008 versions ) , the package requires at least a 1.8Ghz Intel Pentium 4 processor, with 512 MB of RAM. The PC version of the package runs on Windows 2000/XP and requires 1GB of free disc infinite. Internet Explorer version 6.0 or higher is besides necessary. The latest versions of the Mac version of all the faculties of the Quickbooks package require a Mac with a G4, G5 or Pentel processor, Mac OSX v.10.4.10 or v.5, at least 256 MB of RAM and at least 100 MB of free disc infinite. All faculties of the Quickbooks package can run utilizing Apple’s Safari web browser.

Peachtree, developed by Sage, is one of many of Quickbooks rival rubrics, and is besides a module-based package which allows a assortment of users to automatize their accounting procedures and pull off their fundss, from exclusive bargainers to little, medium and big concerns. Peachtree offers more than a twelve integrated faculties, from Peachtree First Accounting which provides basic accounting tools to make bills, to enter client payments, disbursals, the ability to compose cheques, produce client statements and to bring forth more than 30 five different types of studies and fiscal statements, to Peachtree Pro, Peachtree Complete, Peachtree Premium and Peachtree Quantum which all provide farther tools for accounting and finance direction.

In footings of the system demands to run Peachtree package, all faculties ( 2008 version ) require as a minimal Microsoft Windows 2000 SP3, XP SP2 or Vista, at least a 1Ghz Intel Pentium III processor ( or its equivalent ) , 512 MB of RAM and 1 GB of free difficult disc infinite. In footings of pricing, once more mentioning to http: //www.amazon.com, for the interest of direct comparing with the costs of the Quickbooks package provided above, Peachtree First Accounting 2008 costs $ 62.99 ; Peachtree Pro Accounting costs $ 134.99 ; Peachtree Premium Accounting 2008 costs $ 399.99 ; and Peachtree Complete Accounting 2008 ( Multi-user Value Pack ) costs $ 649.99. Peachtree accounting package is therefore significantly cheaper than Quickbooks package, across all faculties.

In footings of a comparing of Quickbooks and Peachtree, evidently Peachtree is by far cheaper than Quickbooks, whilst offering a similar scope of tools for a similar profile of users, from individual users to little, medium and big concerns. Peachtree is advantageous as, aside from its greater affordability, it provides “Business status” snapshots on one individual page, supplying drumhead inside informations of cardinal parts of the histories all in one topographic point, leting the user to derive, in an blink of an eye, a snapshot of the wellness of their concern. None of Quickbooks package modules has this characteristic, as Quickbooks seems to be far more ‘task-oriented’ than Peachtree, which is more ‘analysis-oriented’ . Therefore, depending on one’s specific needs, this difference in the accent on the presentation of information demands to be taken in to account in any determination sing which package to buy. In add-on, many users report that Peachtree package is more ‘intuitive’ than Quickbooks package, doing it far easier to come in informations and to pull strings the informations within the package system.

Reappraisals of the Peachtree package [ 1 ] repeatedly label the package ‘easy to use’ and ‘excellent’ with a comparative reappraisal of Peachtree and Quickbooks [ 2 ] demoing a elaborate comparing of the two package systems, with Peachtree having a gold decoration and Quickbooks a bronze decoration. Peachtree has by far more characteristics than Quickbook, such as the ability to gauge transportation costs, the ability to work out 401K tax write-offs, far more elaborate stock list tracking characteristics, the ability to remote entree the system, fixed plus solutions and the ability to take between hard currency and existent accounting, for illustration ( Top Ten Reviews, 2007b ) . Some of these additions can be purchased for the Quickbooks package, but this lone adds to the cost of this package.

Therefore, it seems that Peachtree is advantageous in that it has a wider scope of characteristics for less cost, and is easier to utilize, i.e. , more intuitive, than the Quickbooks package. In add-on, there are many studies of Quickbooks being really slow at managing big sums of informations, even for the versions that are geared towards multiple users within big companies. This is highlighted by Intuit themselves, who recommend that users create a new company file, and get down once more with their accounting, every two old ages. In amount, hence, following this reappraisal of the two package bundles, Peachtree package would be recommended, over the Quickbooks package, for its comparatively inexpensive start-up costs, its easiness of usage, following its ‘intuitive’ format, and its proviso of concern ‘snapshots’ and its better ability to manage big sums of informations than Quickbooks.

Mentions

Intuit Inc. ( 2007 ) . Personal Finance, Small Business and Tax Software. Available from hypertext transfer protocol: //www.intuit.com [ Accessed 29ThursdayNovember 2007 ] .

Peachtree ( 2007 ) . Peachtree Accounting Software. Available from hypertext transfer protocol: //www.peachtree.com [ Accessed 29ThursdayNovember ] .

Top Ten Reviews ( 2007a ) . Peachtree Complete. Available from hypertext transfer protocol: //www.accounting-software-review.toptenreviews.com/peachtree-review.html [ Accessed 29th November 2007 ] .

Top Ten Reviews ( 2007b ) . 2008 Accounting Software Report. Available from hypertext transfer protocol: //www.accounting-software-review.toptenreviews.com [ Accessed 29ThursdayNovember 2007 ] .

1

Leave a Reply

Your email address will not be published. Required fields are marked *

x

Hi!
I'm Percy!

Would you like to get a custom essay? How about receiving a customized one?

Check it out