Summary:
Last year, Peachtree has climbed its way up to the top rank of all other accounting software in 2009. Being a dominant figure, Peachtree provides basic accounting solutions to complicated solutions for small business owners. One of the key successes to this software is the easy-to-navigate user interface. Through the Peach Navigation Centers, users can access various product functions with a few clicks away. Peachtree offers many useful functions to make business owner’s life easier. A few of the major functions include General Ledgers, Accounts Receivable, Accounts Payable and Payroll features, and a comprehensive Inventory module. To be more competitive, Peachtree released the Business Analytics option which enables users to compare one’s client’s business performance to comparable businesses. This product is highly recommended to small businesses and new users because it’s very easy to access your client’s data which will greatly reduce the amount of work required at year end and increase the accuracy of the results. Moreover, Peachtree provides built-in safeguards which make it hard to pass up.
Connection:
This Quantum software is closely tied with the early version of ACCPAC Simply Accounting software. The only difference between the two is that Quantum is better, faster, and enhanced with more features. As mentioned in 12.4, Simply Accounting is designed for small businesses due to its limitations. However, problems like insufficient computing capacity and limited to only one user have been covered and eliminated by Quantum. Not only does Quantum allow 40 users simultaneously, it is designed for both small and medium businesses and even large businesses. If you look at the master menu of Simply Accounting on pg 527, you will see that you can only view and work on one thing at a time. However, in Quantum, users are capable of opening multiple windows simultaneously, therefore, allowing users to multitask.
Reflection:
From my personal experience with Simply Accounting in grade 11, accounting software had immensely reduced the number of accounting errors and the sophistication of the accounting process. For example, journalizing a 5 column journal manually will take hours to get everything balanced and transferred to other financial statements. However, by using Simply Accounting, I am only required to do the first step of the accounting cycle, journalizing, and the software will magically complete the other steps of the accounting cycle. This includes general journals, trial balance, balance sheet, and financial statements. As a result, only about 1 hour entering journal entries into the computer and allow the computer to finish the accounting cycle, instead of 3 hours of manual work.
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