Contents of CPA Practice Advisor - MAR 2012

Today's Technology for Tomorrow's Firm.

Page 18 of 38

Sage Peachtree Premium Construction Accounting 2012 2012 OVERALL RATING
BEST FIT Peachtree is an excellent entry level product that is well-suited for smaller construction companies or contractors that desire aff ordability and functionality along with solid industry- specifi c features.
STRENGTHS • Aff ordable, easy to use industry specifi c product
• Solid job cost functionality • Large selection of add-on products available • Excellent support system • Scalable – able to ramp up to Peachtree Quantum or other Sage products
POTENTIAL LIMITATIONS • No scheduling/dispatch functionality • No equipment management functionality Peachtree, like its competitors, continues
to make consistent enhancements to its entry-level accounting product. Filled with new features and enhancements, Sage Peachtree Premium Construction Accounting 2012 is well suited for small construction companies.
BASIC SYSTEM FUNCTIONS Peachtree's user interface uses centers for easy system navigation, with the various centers representing the various system functions. All centers are displayed to the right of the screen and automatically refresh when another center is accessed. Users can use the default screen, or customize it to bet er suit their needs. New users can make use of the included wizards that can help with system installation and product setup. Peachtree's data entry screens are easily navigated and are well designed, with all the necessary lookup options available. Peachtree's Business Status feature off ers users a variety of views highlighting various company data such as Account Balances, Aged Payables, and Revenue YTD. Peachtree's Dashboard function has also added 11 additional modules (sections) iincluding Payroll, Top Vendors, Inventory Adjustments, and Item Purchase History. Both are fully customizable, so users can easily access the necessary views as needed. Peachtree off ers remote access for quick access from anywhere, and runs on a Windows platform and will work with Windows XP, Windows Vista and Windows 7.
CORE ACCOUNTING CAPABILITIES Sage Peachtree Premium Accounting for
877-815-8287
Construction 2012 off ers users the identical set of features and functionality found in their general accounting product, along with options designed specifically for the construction industry. Upon installation, Peachtree will install a construction-specifi c chart of accounts that can be utilized as is, or customized as needed. Peachtree off ers users the ability to make
payments electronically, and the banking function makes reconciliation easy. An excellent selection of business tools such as user-defi ned dashboards, tight budget con- trols and company benchmarking get and keep owners on top of their fi nancial situa- tion. Solid AP functionality off ers includes processing of vendor payments and credits, as well as handling time and expense tracking. T e new Vendor Management Center allows users to view current orders, look up various vendor information, and drill down to spe- cific vendor details and transactions. Peachtree's AR functionality allows users to access customer information, process cus- tomer invoices and receipts, customize detail as needed, and users can also drill down to customer and transaction detail as needed. Peachtree currently off ers users three payroll options: Simple, Select, and Managed, with users able to choose what level of payroll, if any they wish to process in house. Both inventory and purchase order functions are also available in Peachtree as well. Peachtree contains excellent audit trail
functionality, with all system transactions tracked in detail which includes system user, transaction date and time. Managers can assign user security by module, choosing the features and functions that can be accessed by specifi c personnel.
CONSTRUCTION/CONTRACTOR- SPECIFIC FEATURES Peachtree allows users to enter estimates directly into each job or job phase. For additional information, users can access the Estimates history, which provides detailed information on all estimates that have been entered into the system since the original estimate was entered. Peachtree's Job and Project Management Center provides users with detailed information on each job, including the job status indicator, so users can determine which jobs are on track, and which need assistance. Users can also track both actual and commit ed costs for each job, and can easily enter and track change order and Bill of Materials revisions. T e Job List provides
project managers with detailed information on all jobs currently entered into the system. Users can also view other pertinent information such as job phases and change order processing as needed. Users can easily track subcontractor insurance expiration dates, process and track labor burden assessments, and track progress billing. Peachtree easily tracks all vendor, cus-
tomer, employee, and subcontractor detail, including the ability to sort and manage all data within each center. Detailed historical data is available for vendors, customers, and employees and users can track subcontractor information by simply entering them in the regular vendor management center, with subcontractor data tracked separately from standard vendor fi les. Expense accounts and insurance information can also be entered for each subcontractor entered into the system. Peachtree's Inventory and Services
Management Center tracks all inventory activity, with users able to track inventory using LIFO, FIFO, and Special Unit Valua- tion. Users can opt to utilize the user-defi ned codes for more specialized tracking, and inventory levels can be adjusted as needed.
REPORTING & MANAGEMENT TOOLS Peachtree Construction off ers users a solid selection of reports which track varying levels of job data in the Job and Project Management Center. Users can run reports such as the Job Ledger, which displays all of the transactions associated with each particular job, and T e Work in Progress report, which shows project managers relevant details about the job, including all job activity to date, along with actual revenues and expenses incurred. T e Business Intelligence Tool helps users create 'smart' reports.' T e new Sage Peachtree add-on application is designed to for users to create custom reports in Excel. All reports off er drill-down capability, and users have the ability to combine numerous reports into a single report. Peachtree off ers users the ability to create
custom templates which can be used for customer invoices and statements, along with sales orders and other correspondence such as let ers. All reports can be easily exported into Excel directly from the print screen, or saved as a PDF or emailed to recipients. Peachtree also allows users to at ach relevant documents such as contracts, blueprints, or
change orders to the corresponding fi le. T e remote access add-on allows users to access Peachtree files from any location.
INTEGRATION/IMPORT/EXPORT Peachtree contains an import/export fi lter that allows users to import or export fi les in an ASCII (.csv) format. Users can also import and convert QuickBooks data into Peachtree. Peachtree also off ers a long list of add-on modules both from Peachtree and third-party applications that are designed to integrate with Peachtree fi nancial products.
HELP/SUPPORT Peachtree contains an excellent 'help' function that can be accessed throughout the product. Various tutorials and the Get ing Started Guide are available for new users, making product installation and setup quick. T e "What's New in Peachtree" displays a list of all new product features, and the "Show Me How To" function allows users to search for instructions for the function that they wish to complete. T ere are also links to the Peachtree website, where users will find various support tools as well. All Peachtree soſt ware enhancements and updates are available on the Peachtree website and can be downloaded at any time. Peachtree also off ers a variety of product support plans which include access to the support help line, as well as all system updates. All support is handled in the U.S. with costs dependant on the level of support desired.
SUMMARY & PRICING Sage Peachtree Premium Construction Accounting 2012 is currently priced at $499.99 for a single user system, with an upgrade costing $449.99. A 5-user system is $1,199.99. With its latest release, Peachtree continues
to provide small business owners an excel- lent, industry specifi c soſt ware product that is aff ordable, and can be up and running in hours, not days.
www.peachtree.com March 2012 • www.CPAPracticeAdvisor.com 19