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So, youve decided that youre ready to take the next step, and buy a full-featured accounting software program. Many options are available to choose from, but I believe the best solutions to be Quicken Premier Home and Business by Intuit, QuickBooks Pro also by Intuit, and Peachtree Accounting by Sage. In order to decide on the right package for you, you need define the type of business that you operate.
With the rise of self-employment (businesses with one or more owners but no paid employees) a need has arisen to manage business and personal finances on one platform. Intuit has released Quicken 2005 Premier Home and Business to fill this need.
This software is perfect for the small business owner who receives income from investments, real estate, and/or internet
marketing. Also, Quicken 2005 Premier Home and Business is well priced at only $89.95.
For more typical brick-and-mortar business owners, you will usually need a more robust solution like QuickBooks Pro or
Peachtree Accounting for functions like payroll reporting and check producing. Each piece of software has its advantages,
Coosing The Right Accounting Software
For nearly 20 years I have been involved in writing accounting software and in training users on how to use both my own and other leading accounting software packages. Their knowledge when I met them for the first time ranged from being qualified accountants to those that had never even switched a computer on let alone run an accounting software package.
Please understand that there are thousands and thousands of different accounting packages available in the world today and no single article
Is your accounting software suitable for your business
I have seen time and time again busines ..
but don't forget that QuickBooks has been the standard in business accounting software for many years now. As for features and basic operations, both applications will provide you the same functionality and convenience for your business.
One additional factor to consider in your decision is that Peachtree Accounting is less expensive than QuickBooks. Both
starter versions of Peachtree and QuickBooks are priced at $99.95 each, but the full-featured version of Peachtree is priced at only $199.95 while the full-featured QuickBooks Pro is priced at $299.95.
At the end of the day, the biggest advantage QuickBooks offers over Peachtree is compatibility with other applications. For example, most commercial banks (Bank of America, SunTrust, etc...) provide you with files designed to work directly with
QuickBooks, so that you can read, study, and decipher transaction details. Also, some banks will allow you to update account information in real-time with QuickBooks. Check with your bank to see what accounting software their online services support, and you should be able to make your decision.
Accounts Receivable in Accounting Software
Typically one of the most important parts of setting up new accounting software would be to be able to invoice your customers in a professional manner and to control who owes you what and how long it has been outstanding for.
So this will be your second step, if you set up your ledger first, otherwise it is where you will start.
Before you start the actual process of invoicing from your new accounting software package you will need to set up your customers, some products and then almost certainly enter into the system the balances that customers owe you at this stage.
There will probably ..
About the author:
Brandon Hall owns http://www.accountingsoftwareportal.comwhich is a site dedicated to providing resources, links, articles, and news related to accounting software products.
Brandon HallHow to Choose the Right Accounting Software for Your Business
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