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Peachtree Complete Accounting 2009 Review
Peachtree Complete Accounting 2009 - Review
We've investigated the 2009 version of Peachtree Complete Accounting and describe the program's main features and benefits in our review below. We also describe some differences in Peachtree Accounting versions.
New Features
New features of Complete Accounting 2009 include enhanced prior year reporting, improved error alerts, updated online backup, a new Cash Flow Manager and improved payroll management and time & expense tracking.
Enhanced Prior Year Reporting. It will now be possible to run general ledger & financial statement reports for all years closed using Peachtree 2009 and future releases. For example, if users need to close a year now, it is recommended that they upgrade to Peachtree 2009 first and then close the year. They will then be able to report on two closed years instead of just one. Compare budgets and financial results across multiple years within your General Ledger reports and Financial Statements. As your business grows over the years, you will be able to use this functionality to get improved trending analysis, better research, and more accurate forecasts based on prior year activity.
Improved Error Alerts. Alerts will now inform users when they save a transaction with non standard Accounts Payable or Receivable accounts, or enter non cash accounts into a cash account field on receipts or payments.
Updated Online Backup. 100 MB of storage off-site on a remote server, Iron Mountain, available free for one year from date of installation. (Upgrade to subsequent release necessary for continued free service).
Cash Flow Manager. New tool shows state of the business's cashflow at a glance, helping users determine cash available for upcoming expenses. View cash accounts balances, and incoming " outgoing cash. Modify settings such as time frame, transaction types and invoice due date for different projections.
Improved Payroll Management. Improved Payroll Setup wizard, support for additional benefits & deductions, enhanced employee records, improved Payroll Formula setup and payroll reports.
Improved Time & Expense Tracking. Now quickly see if time & expense tickets have been applied to invoice/payroll.
Installation and Setup
Installation runs smoothly with specific instructions provided for any anti-virus software already running on the computer. Installation runs smoothly with specific instructions provided for dealing with existing anti-virus software. When setting up your company, there are 75 sample business types to choose from or it is possible to create your own. There's also a New Company Setup wizard, a Setup Guide, and 21 demos which explain key functions.
The Create A New Company wizard collects general company information and offers users different methods to create their company in the program, such as selecting a sample business type, converting from another application or building your own chart of accounts. Peachtree will convert data from QuickBooks and DacEasy with a Conversion wizard.
The Setup Guide then helps users complete the company setup process. Default information, data records, and beginning balances need to be entered for customers, jobs, vendors, inventory/service items, employees, chart of accounts and user security.
There are 21 demos available which walk users through important basic tasks and explain the significance of some functions.
Navigation
Peachtree Complete Accounting's navigation bar provides access to seven navigation centers (Business Status, Customers & Sales, Vendors & Purchases, Inventory & Services, Employees & Payroll, Banking and Company) through which users access tasks related to those areas.
The tasks are set out in an ordered flowchart and relevant key information is also displayed on screen. For example, the Customers & Sales center shows a list of customers, a list of recently used customer reports and a graph of aged receivables. Users can drill down on most of the information presented.
The Business Status Center allows users to monitor their business in one place, showing account balances, year to date revenue, aged receivables & payables pie charts, most profitable customers. The Business Status Center can be printed e-mailed to business partners and associates.
Any of the Navigation Centers can be set as a home page. There is also a list of customizable shortcuts for access to Complete Accounting functions most regularly used. The program also contains traditional menus for access to different parts of the program.
Customers/Vendors
In customer/vendor records, you can set up custom fields to track extra information (e.g. additional contact details, special notes). A History tab displays a useful customer sales/ & receipt or vendor purchases & payment history on a monthly period.
Peachtree Complete Accounting synchronizes contact information with Outlook so users can enter information in either program. Also integrates with ACT! by Sage, which is included in Complete Accounting. Users can view key customer & vendor financial data within ACT!
Online Banking
If your bank allows the transfer of bank statements to Peachtree, you can automatically download statements with the Import Statement wizard. Otherwise this is done in two steps: by downloading the statement from the bank's Web page to your computer, then manually importing the statement to Peachtree. The program will automatically attempt to clear imported bank transactions by matching them with corresponding Peachtree transactions. Any records not cleared will appear in the Account Reconciliation window as new, unmatched bank records. These can then be manually matched with transactions that Peachtree identifies as possible matches.
Time Recording & Billing
Peachtree Complete Accounting provides comprehensive time and expense tracking. Employees and vendors (contract labor) can enter hours & expenses on daily/weekly forms and the information automatically flows to customer invoices and employee paychecks. Flexible billing rates are provided - employee, activity, or flat fee and it's possibe to override rates. Flexible billing status options are billable, non-billable, hold, and no charge. It's possible to consolidate multiple time/expense tickets into a single group which will then appear as one line item on an invoice.
The Time Ticket Register report provides useful information such as who recorded a ticket, job the ticket relates to, billing status & billing amount. Another quick view of time & expense tickets is with the Time/Expense ticket list window which also provides search options.
The Collection Manager tool displays the aging status of customers by graph and chart. You can filter the information by days past due and drill down to actual invoices. From this window you can also select the customers for which to prepare and print collection letters.
Timeslips Remote allows employees to track time and expenses while out of the office or in non-networked environments (charge is $129.95).
Inventory
Peachtree Complete Accounting provides in-depth inventory capabilities. There are three methods of inventory costing: Average, LIFO or FIFO. Users can create assemblies and track assembly items together. Create and track product line inventory items by size, color or other attribute.
Ten price level calculations are available for each inventory item, with customizable level names (e.g. “10% sale”, “employee price”, etc). Users can also easily update inventory item prices by a specific amount or percent.
Determine inventory item re-order quantities and set up purchase orders to auto create based on available or on-hand quantity.
Accounts Receivable & Payable
Quotes, sales orders, invoices, credit memos, customer receipts, statements and deposit tickets can be created in the Customers & Sales navigation center. Forms templates are customizable (or you can create your own) and forms can be printed and posted or sent to customers by email. Set up to four different dunning messages for customer statements based on how long accounts are overdue. Set terms and percentages for the program to calculate finance charges and specify whether they are compounding.
Users can track sales from time of order through to invoice and track which invoices are paid, partially paid, and past due. Aged Receivables reports display outstanding invoices and Customer Sales History report shows most profitable customers.
Customer credit card transactions can be entered and tracked in Peachtree Complete Accounting. Users will need to apply for an online merchant account with the Peachtree Credit Card Service which starts from $9.95/month.
Purchase orders and vendor credit memos can be created in the Vendors & Purchases navigation center. Users can also write and print checks in a simple screen that resembles manual checks.
The Peachtree Bill Pay service allows quick and easy payment of vendor bills from within Peachtree. Payments are electronically transmitted to the Peachtree Payment Center where they are processed and delivered to vendors. Vendor payments can be made on selected dates. Three months' free trial is provided after which charges are $15.95 per month (includes 20 payments) and $6.95 for each additional set of 10 payments.
Payroll
Payroll Setup wizard helps set up your company tax, benefits and deductions information. Direct Deposit Whether you prefer to use a full service payroll solution, or prefer to do it in-house, Peachtree has reliable, cost-effective, time-saving solutions.
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