I work with a lot of small business owners and not-so-small business owners who use either Intuit QuickBooks or Sage Peachtree accounting software. I see QuickBooks more often but according to David Matthew, ERP Analyst and Software Advice Blogger, “with the recent release of Peachtree 2012, Sage has taken major strides in usability.” David does an excellent job in comparing the two in his recent post, complete with an Overview of Essential Features, a Cost Comparison, and screenshots of graphics.
Your bank can offer services that integrate with your accounting software for the sole purpose of creating efficiencies. For instance, you can download your paid checks from your bank’s online banking system and you will be able to import that data right into your bank reconciliation module of your accounting software. This will automatically populate your cleared checks and allow for quicker, more accurate statement reconciliation. Your bank can also provide Direct Deposit service to your employees by exporting a payroll file out of your payroll module and uploading it into your online banking service. A last example would be a scenario where the business owner would use a bank lockbox to collect payments. The bank can create a “posting file” to export and upload into your general ledger to close out an invoice. I don’t know to what extent QuickBooks or Peachtree can provide these aforelisted functions but you should consider many other aspects of your software package in selecting one that fits best for your company. I know you will find David’s blog entry helpful in that regard.