Peachtree Accounting Software – Review

The Peachtree Accounting Software is an ideal accounting software to buy if you want an accurate and reliable accounting software. This accounting software is well-suited for both small and medium sized businesses. The Peachtree Accounting 2008 version has the same easy-to-use interface of the 2007 version. The latest 2008 version from Peachtree is easier to use and is more flexible.

The Peachtree accounting software package comes at an affordable price and is a highly recommended accounting software for small and medium businesses who are looking for cost-effective solutions. Another benefit of the Peachtree Accounting Software 2008 is that it can be used to integrate customer information tracking across software programs.

The latest version from Peachtree has a very informative home page that gives the user detailed information about accounts payables, accounts receivables, account balances and profit and loss amongst others. When compared to the home page of Quickbooks, Peachtree provides more information and it can also be used as an effective business management tool. While Quickbooks provides task oriented information, Peachtree provides detailed information.

The Versions of Peachtree Software

• Peachtree First Accounting


• Peachtree Accounting


• Peachtree Complete Accounting


• Peachtree Premium Accounting


• Peachtree Premium Industry Solutions for construction, distribution, accountants, manufacturing and non-profits
  

What’s best about Peachtree Accounting Software?

• Easy-to-use interface


• Informative business status page


• Easy-to-use input screens for billing, payroll & invoicing


• Can be easily integrated with ACT


• Contact information can be easily synchronized with ACT


• Advanced options


• Large number of reporting tools


• Easy to set up
  

What’s new in Peachtree Accounting 2008?

• Users can easily add attachments (scanned documents, spreadsheets & photographs)


• Users can easily scan & attach invoices, receipts & bills


• Users can use the broadcast invoicing features to generate invoices to many customers

What are Accounts Receivable Services?

Accounts receivable can be defined as one of the many accounting transactions. Accounts receivable services deal with the billing of customers who owe a certain amount of money for the services/products bought from an organization, company or individual. In most organizations, accounts receivable services are carried out by generating an invoice and then sending the same to the customer.

After the customer receives the invoice, he/she must pay the amount within the time period, which is known as payment/credit terms. Some of he most common payment terms are Net30 which means that the amount should be paid within a 30 day period, Net45 which states that the amount is due within 45 days and Net60 which means that the customer should pay the amount within 60 days.

On every company’s balance sheet, accounts receivables will be the amount that customers owe to a particular company. In the journal entry in the balance sheet, the receivables are marked in the debit column ad the revenue account is marked in the credit column. After the customer pays the amount, the cash is debited and the receivables are credited. The balance on the trial balance sheet for accounts receivables is always debited.

Large business organizations use accounting software to perform accounts receivable services. Organizations allocate an allowance for bad debts, because they might not be able to collect all the debts from customers. This bad debts allowance will be subtracted from the total accounts receivable.
Accounts Receivable Services

• Applying cash received to customer accounts Resolving short pays


• Entering receivable transactions into a accounting system


• Preparing bills and mailing them after the customer's approval


• Maintaining records and accounts for revenue


• Preparing and delivering statements periodicallyIssuing of refund checks and credit memos to be approved by the customer


• Maintaining subsidiary receivables ledgers


• Making process adjustments approved by the customer

Accounts Receivable Software

• QuickBooks


• CheckMark


• MultiLedger


• M.Y.O.B

NetSuite Accounting Software - Review

NetSuite is an SAAS offering, which means the software is provided as an online service. Anybody in your organization can login to this web-based system from anywhere, while you pay only for the number of users. All the information is kept up-to-date online and can be integrated with vendors and suppliers too.

The key features of the application that are particularly suitable for small and medium-sized businesses:
· Single, integrated suite with accounting, ERP, CRM, and e-commerce capabilities for end-to-end business process management across the organization
· Ability to manage financials, accounts receivable/payables, general ledger, order fulfillment, purchasing, inventory, time and billing, payroll, employee self-service, and many other accounting related tasks
· Many tools for sales force automation, support management, marketing automation, global CRM, productivity management, e-commerce, partner relationship management, financial management, employee resource management, mobile/wireless service, FedEx shipping integration, UPS online tools, web store, website, customer center, and many more are integrated in the application
· Real time decision making capability with role-based, online access to enterprise wide information
· Seamless integration with third party, industry-specific, and legacy software since it is an open application
· Flexible and easy-to-customize solution to meet the specific needs of different types and sizes of organizations
The hosted nature of this software significantly reduces your total cost of ownership and minimizes your investment in hardware and maintenance. The only drawback is that that the speed and efficiency of the application is only as good as the speed and bandwidth of your internet connection.

What Are Write-up Services?

Professional write-up services can help you manage your finance and accounting needs in an efficient way and ease the workload on your in-house staff. Write-up service providers maintain your entire accounting and transactional information; create financial statements, account receivables, account payables, general ledger; manage account reconciliation; manage fixed assets; perform tax filings; handle payroll; and more. By utilizing these write-up services, you can reduce accounting and finances related stress and ensure accuracy of all your financial reports and records.

Service providers leverage popular accounting software like Quickbooks, NetSuite, Quicken, Peachtree, Sage, and Intuit for better management of even complex accounting requirements. They take financial data inputs in any format (Excel, Access, PDF, image files, hard copies, etc.) and then produce financial reports in the format of your choice. Teams of experienced accountants, who make the write-up process faster and more accurate, complement this. You may outsource write-up services for your entire financial year or get it done periodically, or at the end of the year, based on your business requirements. Most providers offer flexible options that can be customized for the needs of your organization.

Efficient financial management directly translates into informed business decisions, regulatory compliance, better forecasting, and overall a well-managed organization. By outsourcing write-up services, you will not only reduce cost but also get completed and error-free financial statements on time.

Of course, initially you would need to spend a bit of time with your outsourcing services provider to ensure sufficient knowledge transfer for clear understanding of your business processes. You must also attest the quality processes and security methodologies followed by the service provider that guarantees complete safety and accuracy of your critical financial data. To begin with, you can evaluate a few offshore vendors and select the one that offers the best service, quick turnaround, and proven experience in this domain.

Outsource Tax Preparation and VAT Returns to Stay Competitive!

Tax preparation can be defined as the act of preparing the filing of income tax returns. Most companies in the U.S and U.K prefer to outsource their tax preparation services because of the complex income tax laws. Organizations, whose core business functions are not tax preparation, outsource in order to concentrate on core business processes and save on time and effort.
You can find a reliable tax preparation partner in India who can provide you with professional tax preparation services and tax consulting services. Outsourcing tax preparation to India can help you to deal with your tax workload and can also help your organization to meet its taxation filing deadlines on time. Outsource tax preparation services and focus more on your business and customer relationships.
The following is a list of tax preparation services that can be outsourced to providers in India:

For Partnerships

• K-1(Worksheet)
• Form No.1065

For Corporations

• Form No.1120S for Statutory Corporation
• Form No.1120Form No. 1120A

For Individuals

• Form No.1040EZ
• Form No.1040X
• Form No.1040
• Form No.1040A

VAT return services are usually required after the tax period is over. A VAT return would include the amount of VAT charged on sale and the VAT that has to be deductible on purchases. Filing VAT returns can be tedious and time-consuming. Outsourcing VAT returns can give you access to professional services and also help your organization to save on time, money and effort. In India, you can find an expert VAT returns service provider who can provide you with efficient services at a cost-effective price and within a fast turnaround time.

The following is a list of VAT return services that can be outsourced to service providers in India:

• Correcting VAT return forms
• Ensuring minimal VAT returns
• VAT calculations
• VAT return consulting
• VAT administration
  

Move Up On the Ladder of Success by Outsourcing Accounting Services

If you are wondering how outsourcing financial services can help your organization to remain competitive, then this article is for you. Almost every business today has to increase productivity, reduce operational costs and save on time. For financial organizations, this is an even bigger challenge, as the competition is stiff in the financial market. Outsourcing financial services to countries such as India can enable your organization to gain a cutting-edge among your competitors.

Recent research and studies on the subject of organizations in the U.S and U.K outsourcing financial services have shown that companies who have outsourced their accounting services have increased in productivity, time to market and quality. These companies have also been able to stay ahead of competition by getting access to expertise accounting services.

Outsourcing bookkeeping services and accounting services can help your organization to benefit from the following:

• Increased productivity, efficiency and quality in your non-core business processes


• More time and effort can be spent on core business processes, resulting in increased profits


• Get access to accurate, efficient and professional services


• Faster time to market


• Gain a competitive edge among your financial competitors


• Use your manpower for core business processes

Choose to outsource financial services and move your business higher up on the ladder of success. By outsourcing accounting services, your organization can;

• Get access to professional, expert and specialized skills in areas which do not fall under your core business processes


• Benefit from your outsourcing partner’s latest technology, methodologies, infrastructure, processes, quality control and experienced workforce


• Keep your organization’s capital expenditure within control


• Provide your customers with quality solutions


• Improve and increase your organization’s compliance


• Save immensely on operating costs, training costs and overheads


• Get access to expert project and risk management


• Use your in-house resources for your core business processesIncrease your organization’s bottom-line

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