Peachtree Software Review

Do any of these questions pertain to you or your firm?

• Are you a solo or smaller sized law firm looking to automate your accounting records?
• Is your current accounting software just not making the grade?
• Would you like a choice of payroll service plans and options?
• Looking for a comprehensive and reasonably priced accounting software product?
• Do you want web based accounting functionality?
• Are you a current Peachtree user deciding whether to upgrade or a former unhappy user deciding whether to try Peachtree again?

If your answer is “yes” to any one of these questions, then take a look at Peachtree accounting software. Peachtree software has been on the market for more than 25 years, and while in recent times it has played second string to QuickBooks, it doesn't have to anymore. Since this product line was acquired by Best Software, the maker of Timeslips, Peachtree has been transformed from the ugly duckling to the beautiful swan. Best Software has invested time and money into developing a scalable, feature rich, easy to use accounting product that more than favorably compares with QuickBooks, MYOB and other products in this category. Many of the new features that were added to version 2004 and 2005 have come directly from client input and through its certified consultant's network.

In 2003, a user could choose only from Peachtree First Accounting, Peachtree Accounting or the Complete Version. In 2004, Best introduced additional software products such as Premium Accounting and Peachtree Premium Accounting (Accountant's Edition) which enables a firm to choose a product that closely matches their needs and pocketbook. In addition, Version 2004 offers additional industry solutions for those users who needed enhanced distribution, manufacturing or non-profit capabilities. Also, for those users who required additional reporting capabilities, Crystal Reports can be ordered either as an add-on, or comes bundled with higher level products. With Peachtree 2005, Best Software is continuing the tradition of offering its client's scalable product choices, with new features available for each product level, including web based accounting and payroll services options too.

Products and Features

For law firm use, the two choices from the Peachtree product line are PT Premium or PT total, in single user or multi-user versions. The differences between the two versions are as follows:

• PT Complete does not include Crystal Reports, Company Consolidation and Advanced Budgeting features. If you expect to need more than 125 standard reports that come with the product (which can be customized) you may either upgrade to Premium or purchase Crystal Reports as an add-on to maximize reporting capabilities. If you are not consolidating companies and do not require advance budgeting, ie, 3 years instead of 2, then the Complete version will meet your needs.
• Single or Multi-user version. If you have more than one user who will require simultaneous access to the software, then the multi-user version, which permits five users to simultaneously access the software, is the most economical solution.

So now you may be thinking that these features are nice, but how do they benefit my bottom line and how will these changes help me? Beginning with Version 2004, the following improvements were added that not only enhances the seasoned user's experience, but helps new users feel comfortable with this product. These improvements are designed to increase your efficiency and productivity, and to provide you with the timely financial information you need to profitably run your firm.

Several cosmetic changes were added that enhance both a new users experience with the program and is appreciated by the seasoned Peachtree user.

Peachtree opens to reveal Peachtree Today an easily customizable navigator that provides for a quick glance at up to date financial information about your business or for easy access to all program modules. There is the traditional menu bar or customizable tool bar to help you find your way through the program too.

• Bank Account Reconciliation Window. For bifocal wearers, or those with aging eyes, the updated window design allows a user to see more information and more clearly. You can also drill down to each and every transaction into its original entry and make changes without exiting the bank rec.
• Restoring Backups is now easier than before with the newly designed window to help users restore a database backup.
• Changing a period date is now accessible from the navigator window.
• Improved Reporting Capabilities. With this edition, users now have the ability to filter Peachtree reports using multiple noncontiguous data records. This provides the user with great flexibility when configuring a report. Also the ability to generate reports that allow you to drill down to an original entry for detail (if needed) without exiting the report you are in.
• Change Chart of Account IDs and Employee IDs. While this doesn't sound like a big deal, an existing user will appreciate the ability to renumber your Chart of Accounts or Employee ID's without have to make a record inactive and transfer the information by journal entry to your newly created ID. Information now follows the ID.
• Spell check. The ability to have the software spell check your work based upon the options that you select.
• The addition of an Account Register similar to what you will find in QuickBooks.
• E-mail Forms. The ability to email forms to vendor/customers and the ability to customize the delivery option.
• Integration with Microsoft Office. Very easy to send a report to Excel without leaving Peachtree.
• Integration with Act for contact management and Timeslips for time and billing.
• PT Complete Version 2005 adds the following features:
• Mail Merge;
• Display Vendor Balances/Display Customer Balances;
• Credit Hold;
• E-mail Reports and Financial Statements directly from PT in PDF format;
• Find on report and financial statements;
• Inventory section in PT Today;
• Enhanced security in Prior Accounting Periods that means you can lock your prior periods and prevent access to unauthorized users;
• Filtering a report by Vendor;
• Integration with UPS; and
• Auto creation of Purchase Orders.

Will all of this software run on my machine? The basic specs are as follows:

• 450MHz processor.
• 128MB ram.
• 17″ Monitor with resolution of 1024 x 768.
• OS Window XP Professional recommended for a network environment, Windows 2000 SP3, Windows NT 4.0 with service pack 6a. Windows ME and 98SE can also be used.
• To use Microsoft Office with PT products, you need versions 2000, 2002 or 2003.
• 110-250MB free hard drive space.

Note there are additional requirements for a multi user environment.

Now for the bottom line. For a new user, the costs for version 2005 are as follows:

• PT Premium Accounting ' Multi User $999.99.
• PT Premium Accounting ' Single User $499.99.
• PT Complete Accounting ' Multi User $699.00.
• PT Complete Accounting ' Single User $299.00.

The best news about these prices is that the packages contain all the tools needed to get started as Peachtree is not sold by modules. When you purchase the software you will receive, accounts receivable & payable, check writing functionally, inventory, general ledger, reports etc. For those clients interested in upgrading their current version, you should contact a certified Peachtree consultant or Peachtree directly for upgrade pricing.

So you personally are not software challenged, but what if you or members of your firm need training? For the disciplined learner, Peachtree offers self-training guides. However, if you prefer hands on training with a live instructor, contact a Certified Peachtree Consultant. These people are trained by Best and can offer you training, custom report design and many other services. You can locate a consultant nearest you by calling Peachtree or going to their Web site www.bestsoftware.com.

Having worked with all the major accounting software packages over the years, I really feel that Best Software has gone the distance to improve Peachtree to develop a mature product which offers many sophisticated enhancements. Peachtree provides users with economical software solutions that enables your firm to have the financial tools that you need to run your firm and stay competitive. It also offers users the ability to integrate their accounting solution with contact management or time and billing if needed. So if you are in the market for accounting software, give Peachtree a good look I think you will be pleasantly surprised.

Do any of these questions pertain to you or your firm?

• Are you a solo or smaller sized law firm looking to automate your accounting records?
• Is your current accounting software just not making the grade?
• Would you like a choice of payroll service plans and options?
• Looking for a comprehensive and reasonably priced accounting software product?
• Do you want web based accounting functionality?
• Are you a current Peachtree user deciding whether to upgrade or a former unhappy user deciding whether to try Peachtree again?

If your answer is “yes” to any one of these questions, then take a look at Peachtree accounting software. Peachtree software has been on the market for more than 25 years, and while in recent times it has played second string to QuickBooks, it doesn't have to anymore. Since this product line was acquired by Best Software, the maker of Timeslips, Peachtree has been transformed from the ugly duckling to the beautiful swan. Best Software has invested time and money into developing a scalable, feature rich, easy to use accounting product that more than favorably compares with QuickBooks, MYOB and other products in this category. Many of the new features that were added to version 2004 and 2005 have come directly from client input and through its certified consultant's network.

In 2003, a user could choose only from Peachtree First Accounting, Peachtree Accounting or the Complete Version. In 2004, Best introduced additional software products such as Premium Accounting and Peachtree Premium Accounting (Accountant's Edition) which enables a firm to choose a product that closely matches their needs and pocketbook. In addition, Version 2004 offers additional industry solutions for those users who needed enhanced distribution, manufacturing or non-profit capabilities. Also, for those users who required additional reporting capabilities, Crystal Reports can be ordered either as an add-on, or comes bundled with higher level products. With Peachtree 2005, Best Software is continuing the tradition of offering its client's scalable product choices, with new features available for each product level, including web based accounting and payroll services options too.

Products and Features

For law firm use, the two choices from the Peachtree product line are PT Premium or PT total, in single user or multi-user versions. The differences between the two versions are as follows:

• PT Complete does not include Crystal Reports, Company Consolidation and Advanced Budgeting features. If you expect to need more than 125 standard reports that come with the product (which can be customized) you may either upgrade to Premium or purchase Crystal Reports as an add-on to maximize reporting capabilities. If you are not consolidating companies and do not require advance budgeting, ie, 3 years instead of 2, then the Complete version will meet your needs.
• Single or Multi-user version. If you have more than one user who will require simultaneous access to the software, then the multi-user version, which permits five users to simultaneously access the software, is the most economical solution.

So now you may be thinking that these features are nice, but how do they benefit my bottom line and how will these changes help me? Beginning with Version 2004, the following improvements were added that not only enhances the seasoned user's experience, but helps new users feel comfortable with this product. These improvements are designed to increase your efficiency and productivity, and to provide you with the timely financial information you need to profitably run your firm.

Several cosmetic changes were added that enhance both a new users experience with the program and is appreciated by the seasoned Peachtree user.

Peachtree opens to reveal Peachtree Today an easily customizable navigator that provides for a quick glance at up to date financial information about your business or for easy access to all program modules. There is the traditional menu bar or customizable tool bar to help you find your way through the program too.

• Bank Account Reconciliation Window. For bifocal wearers, or those with aging eyes, the updated window design allows a user to see more information and more clearly. You can also drill down to each and every transaction into its original entry and make changes without exiting the bank rec.
• Restoring Backups is now easier than before with the newly designed window to help users restore a database backup.
• Changing a period date is now accessible from the navigator window.
• Improved Reporting Capabilities. With this edition, users now have the ability to filter Peachtree reports using multiple noncontiguous data records. This provides the user with great flexibility when configuring a report. Also the ability to generate reports that allow you to drill down to an original entry for detail (if needed) without exiting the report you are in.
• Change Chart of Account IDs and Employee IDs. While this doesn't sound like a big deal, an existing user will appreciate the ability to renumber your Chart of Accounts or Employee ID's without have to make a record inactive and transfer the information by journal entry to your newly created ID. Information now follows the ID.
• Spell check. The ability to have the software spell check your work based upon the options that you select.
• The addition of an Account Register similar to what you will find in QuickBooks.
• E-mail Forms. The ability to email forms to vendor/customers and the ability to customize the delivery option.
• Integration with Microsoft Office. Very easy to send a report to Excel without leaving Peachtree.
• Integration with Act for contact management and Timeslips for time and billing.
• PT Complete Version 2005 adds the following features:
• Mail Merge;
• Display Vendor Balances/Display Customer Balances;
• Credit Hold;
• E-mail Reports and Financial Statements directly from PT in PDF format;
• Find on report and financial statements;
• Inventory section in PT Today;
• Enhanced security in Prior Accounting Periods that means you can lock your prior periods and prevent access to unauthorized users;
• Filtering a report by Vendor;
• Integration with UPS; and
• Auto creation of Purchase Orders.

Will all of this software run on my machine? The basic specs are as follows:

• 450MHz processor.
• 128MB ram.
• 17″ Monitor with resolution of 1024 x 768.
• OS Window XP Professional recommended for a network environment, Windows 2000 SP3, Windows NT 4.0 with service pack 6a. Windows ME and 98SE can also be used.
• To use Microsoft Office with PT products, you need versions 2000, 2002 or 2003.
• 110-250MB free hard drive space.

Note there are additional requirements for a multi user environment.

Now for the bottom line. For a new user, the costs for version 2005 are as follows:

• PT Premium Accounting ' Multi User $999.99.
• PT Premium Accounting ' Single User $499.99.
• PT Complete Accounting ' Multi User $699.00.
• PT Complete Accounting ' Single User $299.00.

The best news about these prices is that the packages contain all the tools needed to get started as Peachtree is not sold by modules. When you purchase the software you will receive, accounts receivable & payable, check writing functionally, inventory, general ledger, reports etc. For those clients interested in upgrading their current version, you should contact a certified Peachtree consultant or Peachtree directly for upgrade pricing.

So you personally are not software challenged, but what if you or members of your firm need training? For the disciplined learner, Peachtree offers self-training guides. However, if you prefer hands on training with a live instructor, contact a Certified Peachtree Consultant. These people are trained by Best and can offer you training, custom report design and many other services. You can locate a consultant nearest you by calling Peachtree or going to their Web site www.bestsoftware.com.

Having worked with all the major accounting software packages over the years, I really feel that Best Software has gone the distance to improve Peachtree to develop a mature product which offers many sophisticated enhancements. Peachtree provides users with economical software solutions that enables your firm to have the financial tools that you need to run your firm and stay competitive. It also offers users the ability to integrate their accounting solution with contact management or time and billing if needed. So if you are in the market for accounting software, give Peachtree a good look I think you will be pleasantly surprised.