Introduction
There is a number of accounting software program catering to the accounting and taxation needs of small business entrepreneurs, having different features. Each of the accounting software has its own unique features, although all of them have some common features. This paper makes a comparison of the accounting software, Simply Accounting with QuickBooks and
Simply Accounting versus QuickBooks
Both Simply Accounting and QuickBooks share many common features; but for the selection of a particular accounting software program, it is important to consider the differences between the two software programs.
Currency Options
Simply Accounting Pro version comes with a multicurrency option with two currencies built into the program. Other versions of Simply Accounting provide for the use of unlimited currencies. Companies operating in different countries may have to transact in more than one currency. For those companies, Simply Accounting is a better option.
In the QuickBooks Pro version, the user has only a single currency option, if the software program is bought online or from any dealer store selling the software. Businesses that require the use of more than one currency may call the QuickBooks sales to get the link for downloading the software to use multi-currencies. The multi-currency option is not available with the QuickBooks Pro version. It comes only with its Multicurrency Premier Edition. The advantage of the Premier version is that it has a three-user license; but the software is expensive than the Pro version, which is a disadvantage (Khan).
Upgrades
The accounting software Simply Accounting provides for easy upgrading of an earlier version to the latest version. It is possible to upgrade all versions of Simply Accounting, which provides for the facility of Multicurrency function; but this facility of upgrading is not available in Simply First Stage. However, there may be some problems encountered with Office XP. “Older versions of Simply Accounting may not upgrade to newer versions that require Windows 2003 or Windows 2007 Office software. Windows 97 Word or Excel may need to be upgraded.”
Multicurrency editions of QuickBooks pose major problems with upgrades. There is no facility to upgrade the single currency version of QuickBooks software automatically, especially when the business has started accounting using the Multi-currency version of the software. When the upgrading is attempted despite the lack of upgrading facility, it would lead to deletion of details. It may also lead to the transactions being presented without marking the base currency.
Payroll Accounting
When the accounting software was first introduced, Simply Accounting offered the feature of printing payroll checks free of cost. Presently there is the need to pay a subscription and the subscription rates vary from time to time. One has to call Sales to ascertain the current rate of subscription. In the case of QuickBooks, the Multicurrency version is quite expensive for including payroll options than the Pro versions. This is a disadvantage with QuickBooks.
Format for Report Generation
It is easier to generate reports in QuickBooks, as sending estimates, invoices, packing slips and other reports can be easily done with the click of the correct email icon. There is an automatic email procedure with the required report made out in a pdf format and sent to the desired receiver. This function with QuickBooks works hassle-free and is easy to work on.
In the case of Simply Accounting, there is a special report generation program known as ‘Crystal Reports’. Even though this program is not sold with any of the versions of the software, it is available free of cost to all Simply Accounting customers. With a call made to the sales department, the customers can get the Crystal Reports CD by mail. The customer has to pay only for the shipping charges. Nevertheless, Crystal Reports is not user-friendly software. It is necessary that there is someone, who has knowledge on setting it up or the user should take courses on using the software. Alternatively, the user can get to know the set-up procedure by referring to books on the topic.
Simply Accounting versus Peachtree
Peachtree is considered the most popular accounting software program next only to QuickBooks. It has more than one million users worldwide. For the price the user pays, Peachtree is found to provide the maximum value with extraordinary features built in to enhance the efficiency of the system and to meet a number of needs of small business owners. However, just like any other entry-level accounting software, Peachtree has its own limitations. Growing businesses will soon find themselves outgrowing Peachtree.
Peachtree is found useful when the business is a large operation with payroll and too much invoicing is to be done. Peachtree has many features similar to that of Simply Accounting. It has also many other features which enable users to find information on the status of accounts, income and expenditure, debtors and creditors, which are made available in one in one spot which is convenient for the users. The system has other features where users can add attachments such as scanned documents, which is not available in Simply Accounting. This capability of the software helps users to scan and business documents. It also facilitates the creation of a paperless office working with a superior accounting program.
The major advantage with Peachtree is its ability to accommodate multi-users to suit the business environment (Peachtree.com). It has a strong database capacity to store a larger volume of information as compared to Simply Accounting. Peachtree has more functionality like order process workflow, notifications, advanced security features, customer management center, transaction history and multiple contacts per business (Eitel) which are not available with Simply Accounting.
Peachtree does not support multicurrency, whereas Simply Accounting has this feature.
Upgrades in Peachtree accounting software are not difficult. With the latest editions, users can update the software to reflect the latest patches and can tune up the files and database.
The payroll section of Peachtree has all the resources needed to process the payroll with speed and ease. The user can run payroll for some or all of the employees at a point in time. The system can facilitate the printing or cancellation of the checks. It also provides for the direct deposit of funds in the employees’ accounts.
Report generation under normal circumstances in Peachtree would be slow, compared to Simply Accounting. Even with the Peachtree Purge Wizard built in the Peachtree accounting software does not do a good job in removing the old transactions (Michael). Peachtree Purge Wizard allows the user to remove transactions from the closed accounting period and to purge transactions relating to inactive customers, vendors or employees from the system. However, this function does not seem to be effectively functioning. Therefore, because of the storage of old data Peachtree is slow to report generation.
Accounts receivable in Peachtree has a special feature of view from the start to finish of an account, which is not available in Simply Accounting. This feature helps the user to decide the steps to be followed in proper sequence and take action accordingly. The accounts receivable section also provides details on sales tax codes and the user can track the performance of sales representatives (TopTenReviews).
Peachtree has an additional feature of ‘Turn off’ which enables the user to turn off selected Peachtree options in Maintain Global Options dialog box. This feature provides an option to the user to keep open the options “such as Check spelling as you type, or change this setting from “Slow but accurate” to “fast but less accurate”. Also change the settings under the Improve Performance tab to turn off Automatic field completion, dropdown lists, and page length to gain a little more speed.” (ASAResearch)
In order to get the full advantage of the Peachtree accounting software program, it is necessary that the user should use a faster computer and a faster server. Peachtree has special provisions for the display of the database size and the information on the number of records. This information helps the user to determine the usage level of the software and to assess whether the business is outgrowing the accounting software capabilities. This feature is not found in Simply Accounting. When the business outgrows the capabilities, of the earlier versions of Peachtree there is the option to upgrade to Peachtree Quantum, which has additional features, and much larger database capacity, which is a distinct advantage to a growing business; but the software is very expensive that the business has to invest a large sum for upgrading the software.
Choosing an accounting software program depends on the size, nature of business, number of users, and volume of transactions of the small business. Each of the accounting software has its own strengths and limitations, which need to be considered in making a rational choice on the selection of the appropriate accounting software to suit the business.
Works Cited
Accounting Software Review – Peachtree Complete. TopTenReviews. 2003. Web.
Eitel, Joe. Quickbooks Vs. Peachtree Accounting Software. 1999. Web.
Khan, Marlon. Quick Comparison – Choose Quickbooks Or Simply Accounting? 2010. Web.
Michael. Peachtree Accounting Software. 2008. Web.
Practical Advice for Companies who have Outgrown Peachtree ASAResearch. 2008. Web.
Sage Pagetree Quantum – Challenge Outgroqwing Software. SagePeachtree.2009. Web.