Peach Tree

The Theory of Accounting
Applied to Software
Justin Botillier, Torrey Jacobson,
Mindy Konno, Maxine Vang, John Zoller
Accounting Software Available

1.
2.
3.
4.
5.
6.
7.
Microsoft Dynamics
Peachtree (Sage Accounting Software)
QuickBooks
Everest Software
GnuCash
Grisbi
Dolphin Accounting Software
(formerly Microsoft Great Plains)
Project Accounting Software
Software Benefits
Financial management
Analytics
Instantaneous financial analysis

Broad range of flexible, customizable analytics, reporting and
budgeting options
Business Portal
Built on Microsoft .NET technology. Allows data and processes

to be accessed from a Web-based portal
Dynamics v. other packages
Integration with widely-familiar applications
Pricing/Financing
Developed by Microsoft which means it is built to work

seamlessly with their other products, such as Microsoft Office
and Microsoft SQL Server
Microsoft Office-like interface
$5,000 to $500,000. Module type packaging lets a company
create their own personal accounting package, eliminate
expense on unwanted options
Available from Microsoft Financing to reduce the burden of
expensive IT changes
Training
Online e-courses
Classroom training throughout the United States and Canada
Dynamics v. MAS90
*http://www.microsoft.com/dynamics/gp/product/mas90comparison.mspx
Dynamics Demos
http://www.microsoft.com/dynamics/gp/product/demos.mspx
GnuCash
Open
source software
(free)
Runs on Macintosh,
Windows, and Linux
computers
Keeps tract of bank
accounts, stock
options, income and
expenses
Grisbi
Open source accounting

software (free)
Runs on Windows,
Macintosh, Linux
computers
Provides basic
accounting
reporting/recording such
as managing third party
finances, expenditure and
receipt categories
Versions of Peachtree
1. Peachtree by Sage First Accounting
*Designed to support small serviceoriented businesses
2. Peachtree by Sage Accounting
*Add basic inventory features to support
retail establishments
Versions of Peachtree Cont.

3.
4.
Peachtree by Sage Complete

*Provides networking and multi-user support, advanced
inventory features, online banking, online bill paying,
job costing, time and billing, an audit trail, and first-rate
fixed asset management features.
Peachtree by Sage Premium Accounting
*Includes all the features found in Peachtree complete
as well as departmental accounting, serialized inventory
to assign serial numbers to them, company
consolidation to roll up and summarize data, progress
billing and employee compensation histories and report
customization.
*Also comes in industry-specific versions for
accountants, manufacturers and distributors.
New Features of Peachtree

Complete
Now
offers online
banking a longtime
QuickBooks feature
Download and import
transactions from
your financial
institution directly to
Peachtree
Bank list
New Features Continued

New
online bill
payment features
New internal
accounting review
that removes
suspicious
transactions and
accounting mistakes
such as duplicate
transactions
Accounting Features
The
sales section in Peachtree, allows you to

keep track of customers, sales, sales
representatives and tax codes. You can also
update your general ledger and sales journal as
well as create an accounts receivable report.
Accounts payable section, known as purchases,
allows you to keep track of vendors and writing
checks to making payment schedules
Accounting Features
Payroll
lets you keep track of employee salary

and how much your company owes to
government.
G/L (General Ledger) section keeps a log of all
your transactions for 2 years. There are 13
periods within each year.
Inventory allows for adjustments as well as keep
track of how much inventory your business has.
Billing/Time keeps track of which customers are
being billed as well as time cards.
Accounting Features
Analysis
allow your to view how your business is

doing as a whole. For example youll be able to
see a payment aging report that allows you to
see what percentage of credit sales are paid on
time.
The Company section holds miscellaneous
features such as a tutorial on how to use
Peachtree and an alarm system that notifies you
of important events. It also has a Job Reports
feature that allows you to create report by job
lists, estimated job expenses etc.
Peachtrees Strength
Fast and smooth

download (less than 15
minutes)
Excellent tutorial that
walks you through
programs
Offers some 145
customized reports
Audit trail- allows you to
record and report any
changes made
Peachtrees Weaknesses
Expensive
constantly update the

software
Only runs on
Windows (not flexible)
Compared with QuickBooks

Has
the upper hand when it comes to

inventory.
*Lets you track assemblies through
manufacturing
*Create master and sub-assemblies
*Adjust prices by percentages
*Apply LIFO, FIFO Weighted Average
and more
Compared with QuickBooks

Continued
Manufacturing
firms should highly

consider using Peachtree
Those in retail and service businesses that
are happy with QuickBooks have little
reason to switch because QuickBooks
offers an excellent wholesale and retailspecific edition.
QuickBooks
Basic Information
QuickBooks
is an accounting software
program
Designed for small businesses
Produced by Intuit
An off-the-shelf accounting information
system
How is QB different from Quicken?

Programs
such as Quicken and Microsoft

Money are designed to help with personal
finances
This
often involves little more than bank

account activity
QuickBooks
and Peachtree are business-
oriented
The
program is set up around business

transaction cycles
Versions of Quickbooks
Features
offered vary depending on the

version you have
Main versions are:
Simple
Start
Pro
Premier
Enterprise
Solutions
Differences between versions

Prices
range from approximately $100 to

$6000 depending on the level of
complexity desired
Simpler versions provide help with
tracking bills and day-to-day transactions
More advanced versions offer payroll and
inventory functions
Mac versions are also available
Using QB
Operation
of QuickBooks differs
somewhat from textbook descriptions of
accounting processes
Use of QuickBooks is modeled around
business processes rather than the nuts
and bolts of the accounting cycle
This feature may be helpful to users
without a strong background in accounting
BA 211/317
Manual
accounting cycle:
Journalize
transaction
Debit/Credit
Post
to G/L
Trial balance
Adjust
Statements
Closing
Accounting QuickBooks Style

Major
business processes are grouped in

the navigators
To enter a transaction, go to the
appropriate navigator
Click on the necessary document
QuickBooks generally handles debit/credit
issues
Sometimes,
a prompt is needed
Accounting QuickBooks Style

Each
document represents a complete

entry or transaction
Transactions are automatically journalized
and posted
Reports and financial statements are
available at the click of a mouse
Financial Statements
With
a manual system, financial

statements are only available when the
books are about to be closed
With QuickBooks, the program will
produce reports and statements at any
time
So no worries? Not quite
Financial Statements
Beware
of GIGO effect:
Statements/reports
may not be accurate if

important information has not been entered
The system will simply work with whatever
numbers it has
Drawbacks
Forms
and processes are largely fixed

Inventory features are difficult to find and
use
Qualifier:
the program available to us is the

2002 edition, so this may have changed in
recent years
Hands-On Features
If
necessary, journal entries can be made

manually
QuickBooks usually comes with a
standardized chart of accounts
However, the
user can alter this chart as

necessary to meet individual needs
Overall
Why
accounting softwares are useful now

compared to back then?
How is it related to our learning in BA 378?
Internal controls
Questions?
Bibliography
http://www.users.bigpond.com/dunster1/Far%20Side.htm
http://www.smallbusinesscomputing.com/biztools/ar
ticle.php/3520081
http://accounting-software-review.toptenreviews.com/
peachtree-review.html
http://www.accountingsoftwareadvisor.com/peachtree/index.
shtml
http://www.peachtree.com/peachtreeaccountingline/complete/
http://quickbooks.intuit.com/
http://www.microsoft.com/dynamics/gp/product/demos.mspx

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What are some of the major accounting software packages discussed in the document?

What are some of the major accounting software packages discussed in the document?

What are some of the benefits of using accounting software compared to manual accounting?

What are some of the benefits of using accounting software compared to manual accounting?

The Theory of Accounting

Accounting Software Available

(formerly Microsoft Great Plains)

Project Accounting Software

Instantaneous financial analysis

Built on Microsoft .NET technology. Allows data and processes

Dynamics v. other packages

Integration with widely-familiar applications

Developed by Microsoft which means it is built to work

Open source accounting

Versions of Peachtree Cont.

Peachtree by Sage Complete

New Features of Peachtree

New Features Continued

sales section in Peachtree, allows you to

lets you keep track of employee salary

allow your to view how your business is

Fast and smooth

constantly update the

Compared with QuickBooks

the upper hand when it comes to

Compared with QuickBooks

firms should highly

How is QB different from Quicken?

such as Quicken and Microsoft

often involves little more than bank

and Peachtree are business-

program is set up around business

offered vary depending on the

Differences between versions

range from approximately $100 to

Accounting QuickBooks Style

business processes are grouped in

Accounting QuickBooks Style

document represents a complete

a manual system, financial

may not be accurate if

and processes are largely fixed

the program available to us is the

necessary, journal entries can be made

user can alter this chart as

accounting softwares are useful now

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