QuickBooks holds nearly 90% of the SMB accounting software market in the United States. That leaves very little for the rest of the competition, but Peachtree does have certain advantages which make it a viable contender. Both software solutions will allow businesses of any size be able to track expenses, receive useful bookkeeping tools, and manage income resources. Peachtree is usually treated as an SMB solution, while QuickBooks offers plans for individuals, self-employed workers, and independent contractors.
By looking at the strengths of each accounting and finance software solution, you can determine which product will best meet your needs.
One quick note: Peachtree is now powered by Sage and has been streamlined into the accounting and finance software package known as Sage 50.
What Are the Strengths of Peachtree?
Peachtree offers users access to 100+ reports that are fully customizable. It is also a cloud-based service, so you can have people working together to input data and generate the reports that your brand and business may need. It can manage inventory by average costing, LIFO, FIFO, and more.
Here are the additional strengths to consider when looking at what Peachtree can provide as an accounting and finance software solution.
- It can accommodate up to 40 users with its top-level plan, while the mid-range plan allows for single-user or multiple user platforms.
- GAP checks allow for reviewing activity that may seem suspicious or to check for duplication.
- There are job costing capabilities built into the platform.
- It offers a comprehensive solution for inventory and workflow management.
Sold as Sage 50, Peachtree offers three pricing options.
Sage 50c Pro: This plan allows you to organize your finances, manage your AR/AP, and manage your cash flow and costs for $44 per month.
Sage 50c Premium: This plan includes inventory planning and tracking, managing expenses and jobs, with options to add more users and controls. Pricing begins at $68.25 per month.
Sage 50c Quantum: This plan offers enterprise-level accounting and industry-specific features and faster process. A minimum of 3 users are required to be purchased with this plan, with pricing beginning at $172.42 per month. A 10-user plan is $287.42 per month.
Peachtree also offers a discounted Microsoft Office 365 subscription with the purchase of a monthly or annual plan to the Sage 50 accounting and finance software solutions.
What Are the Strengths of QuickBooks?
QuickBooks tends to be easier to use, following a system that feels like using a checkbook register. This simple interface makes it a good solution for individuals who are looking for more data about their current transactions and habits. It offers a cloud-based solution as well and an online version that is extremely affordable. QuickBooks works with average costing.
Here are the additional strengths to consider when looking at what QuickBooks can provide as an accounting and finance software solution.
- It offers accountant copy capabilities at every subscription level so financial tracking is much easier to do.
- It can integrate into e-commerce platforms, including e-stores that may be used as an affiliate.
- There is a syncing capability with bank accounts and credit card accounts so that transactions can be obtained and reviewed in real time.
- There are several third-party add-ons which are available to this software solution and it also offers a point of sale option.
There are four different plans available for QuickBooks.
Self-Employed: For $10 per month, you can track miles, income, send invoices, and organize expenses.
Simple Start: For $15 per month, you gain the ability to send estimates and track sales tax, but lose the ability to track miles.
Essentials: For $30 per month, you can add bill management and multiple users to your QuickBooks subscription while keeping all the Simple Start features.
Plus: The Plus plan includes everything previously mention, plus allows for time tracking, inventory tracking, and 1099 payment tracking.
You can add an enhanced payroll feature to these plans for $25 per month, plus an additional $5 per employee per month. Full service payroll is available for $80 per month, plus an additional $5 per employee per month.
Peachtree vs QuickBooks: Which Is Better?
Peachtree is designed for businesses that are ready to take the next step forward with their finances. The tracking and management tools offer more data that can be filtered into customized reports that make it possible to manage SMBs and large businesses with a greater level of efficiency.
QuickBooks is a generalized accounting software solution for individuals, contractors, and SMBs that are just getting started. It offers basic tools, collaboration possibilities, and real-time data syncing with your accounts.
Each has the potential to be an effective solution. Consider the strengths of each product and you’ll be able to find the one which works best for you.