Accounting Systems Comparison - QuickBooks, Peachtree/Sage 50, And Intacct

As with many other industries, accounting is "going online". This is especially true for small to mid-sized companies. Fortunately, there are several software solutions on the market which are designed to simplify online accounting processes for startups and small businesses. QuickBooks, Intacct, and Sage 50 (previously branded Peachtree) are three such applications. Following is a brief comparison of these three software solutions.

QuickBooks
QuickBooks' parent company originally launched a software solution to assist with personal financial management. They soon recognized the need to offer a similar solution for small business owners. Today, QuickBooks is recognized as an essential tool to aid small businesses with their financial management. QuickBooks allows users to track their income and expenses, record bank information, organize tax-related information, and it also offers the option of data backup data for business continuity planning. QuickBooks also provides some versioning on the basis of business attributes such as General, Wholesale, Retail, Not for Profit, or Contractual. They offer programs for Accountants and Professional Services as well.

Sage 50
Sage 50, previously known as Peachtree Accounting, is another business management software program. Like most accounting software designed for small to mid-size businesses, Sage 50 also provides options for different business sizes, such as an entrepreneurship, small to mid-sized business, and a large business. Sage 50 accounting solutions include:
> Routine accounting and bookkeeping work, such as cash flow, payments and collections
> Insights for areas like cash flow management and benchmarking
> Explanations on key metrics
> Inventory tracking and purchase planning

Sage 50 solutions also offers system options on the basis of whether a business requires a full-time, dedicated, fully integrated accounting system; or one that is client or project dependent; or one that requires payroll management and necessitates the creation of budgets.

Intacct
Intacct is a cloud-based solution offering options such as accounting, financial management/reporting, as well as inventory and vendor management. Intacct offers solutions customized to various industries, including accounting, healthcare, hospitality, non-profit, and wholesale distribution.

Intacct offers many options for customizing your reports, including employee time tracking and management, vendor tracking for details like inventory management and purchasing, financial solutions like multi-currency management and global consolidations, and more. However, Intacct is a bit more complex than the previous two solutions and maybe better suited to a mid-size business than to a startup, depending upon the needs of the business.

Snapshot: Comparison

QuickBooks	Sage 50	Intacct
> Simplified and accurate financial management option, and offers significant support for bookkeeping and accounting functions such as batch entries, which save time for small businesses	> Simplified and accurate financial management options. Reliable management features and multiple inventory management methods for web-based accounting	> Offers multiple features for a wide variety of industries, including mid-size businesses.
> User-friendly navigation system; considered top cloud-based financial application	> Logical, easy-to-track workflow and reporting features	> Customizable dashboards. Provides users with options to support their clients’ accounting needs
> Inventory functionality is limited, and the program poses some integration problems; however, it integrates smoothly with most third party applications	> Robust options, although the inventory management is single location defined	> Powerful program that may contain features that are more complex than those required by a startup or a small business

No matter which solution you choose, a reliable accounting system will assist you in running your business more effectively.

Analytix Solutions
The Company that CPAs Recommend
Analytix Solutions is a professional full-service business support solutions provider. The company offers comprehensive and scalable accounting and bookkeeping services while leveraging its expertise, experience, and state-of-the-art infrastructure. It offers multiple services in diverse packages for companies that are seeking a trustworthy and professional partner to give their business a head start.

7 Reasons Why QuickBooks is Good for Accounting and Bookkeeping Of Your Business

As a small business owner, you must be spending a lot of time on your accounting and bookkeeping functions. QuickBooks is renowned accounting software for small to mid-sized businesses which can help you save time. It is being used by many businesses for maintaining accurate business records and is a trusted accounting and bookkeeping solution. QuickBooks is also on the service offerings of many reputed firms which provide accounting services and bookkeeping services. Listed below are 7 reasons your business should not miss QuickBooks as a bookkeeping solution

1. Saves Time
   

QuickBooks automates the simple tasks of your accounting and bookkeeping of your business, so that you save the hassles of paper-based bookkeeping. You can free up valuable time from the financial functions and dedicate that time to developing your business or catering to customers.




2. Affordable

QuickBooks is one of the most efficient accounting software available today, making it a very useful tool for small and medium sized businesses. Compared to hiring a bookkeeper, QuickBooks is a much cost effective solution for accounting and bookkeeping.



3. Customized Solution
   

You can customize QuickBooks according to your business requirements. As an accounting software which is applicable to various industries, QuickBooks is designed to be flexible and adaptable to each business separately. For example, it can be customized and used for accounting and bookkeeping for a numerous business types, whether it is a restaurant, franchise, sports facility, medical practice, dentistry or salon. You can ask your bookkeeping service provider to customize QuickBooks according to the industry you work in.



4. Reduces Errors
   

QuickBooks minimizes the chances of an error that a bookkeeper might make while typing. Calculations are done automatically in QuickBooks, which reduces the chances of a human mistake in accounting and bookkeeping of a business. While using QuickBooks, data can also be shared with business applications as well as popular programs like excel sheets, word documents, Outlook etc.



5. Reliable Solution
   

QuickBooks is the most reliable accounting and bookkeeping software available for small and mid-sized businesses. Some of the most reputed bookkeeping service providers provide QuickBooks solutions to small and mid-sized businesses and help them in maintaining their books of accounts. It is one of the most trusted and reliable software, being used by thousands of businesses all over the world. You can rest assured that your bookkeeping functions are being taken care of by a proven, trustworthy software.



6. Grow your Business
   

With QuickBooks into the picture, you can grow your business with the backing of strong accounting and bookkeeping records. With up to date balance sheet, profit and loss statement, statement of cash flows etc., you can get business loans, line of credits or plan the expansion of your business easily.



7. Automates Processes
   

You can automate most payment processes through QuickBooks. No more of printing checks, going to the bank or stamping envelopes. With QuickBooks you can click a button and make the payment. Banks also allow downloading of monthly bank statements into QuickBooks for easier reconciliation. If you don't have QuickBooks software for your business, you can contact an experienced bookkeeping service provider for a customized solution.

There are many experienced accounting and bookkeeping service providers which provide customized QuickBooks integrated solutions for small to midsized businesses. You should select an end-to-end service provider who can be trusted and can provide on-demand support post installation too. Having QuickBooks to manage the accounting and bookkeeping of your business gives you a powerful tool for managing your books with complete ease.