ACCOUNTING SOFTWARE FEATURES COMPARISON

By: Gary A. Porter, CPA In the Winter 1999 issue of The Ledger Quarterly we reviewed some basics on accounting software selection criteria. We also presented an update on the newest versions of Quickbooks Pro and Peachtree. With this issue we are presenting a chart that compares features on several commercially available, low end, accounting software packages. While we certainly recognize that this industry has some unique needs from accounting software, many associations and management companies still opt for low end accounting solutions. For that reason, we believe the following information is useful to readers in providing a more independent review of features than is available directly from the software companies.

MYOB Accounting Plus 9.0

Quickbooks Pro 2000

ACCPAC Simply Accounting 7.0

TOP 12 FEATURES

System Requirements Minimum recommended system Minimum recommended RAM Operating Systems Supported networks Security Level(s) User access defined by Security maintains access log Interfaces Imports/Exports ASCII text files Exports to word processor(s) Exports to spreadsheet(s) ODBC-compliant

Pentinum 32 MB Win 95/98/NT4 N/A

Pentium 166MHz 64 MB Win 95/98/NT4 NetWare, Windows Peerto-Peer & NT Server 4.0

Pentium 16 MB Win 95/98/NT4 & Mac Windows Peer-to-Peer & NT Server 4.0

Win 95/98/NT4 NetWare, Windows Peerto-Peer & NT Server 4.0

by function/modules access mulitple secruity levels no

by function/modules access administrator-defined groups X

by function/modules access multiple secruity levels no

multiple secruity levels X

no X X no

X X X no

X X X no

This article was downloaded from Porter & Companys web site at www.porterandcompany.com Contact Porter & Company at (800) 304-6700 for any questions regarding this article or related subjects.

Peachtree Software Peachtree Complete Accounting 7.0

486 12 MB screen level X no X no

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Accounting Software Features Comparison (contd)

MYOB Accounting Plus 9.0

Quickbooks Pro 2000

ACCPAC Simply Accounting 7.0

TOP 12 FEATURES

General Features Ability to consolidate companies Compresses client data Real-time or batch entry Customize data-entry field or names Customizable user menus Context-sensitive online help Allows postings to closed years Requires all input to be balanced JE lookup of account codes JE lookup of account codes by name Automatic reversing entries User-designed forms & checks General Ledger Functions Provides standard chart of accounts (COA) Supports departments Supports departments & divisions Supports project codes Prior year adjusting entries Financial Statements/Reports This month vs. last year This month vs. budget YTD vs. last year YTD vs. budget Percent of revenue calculations Cash flow statement Ratio analysis Financial snapshots Displays information graphically Custom reporting Custom queries

no X Real-time no no X X X X no X no

no X Both X no X X X no X no X

no X Real-time X no X no X X no X X

X no no X X

X X X no X

X X no X no

X X X X X X no X X X no

X X X X X X no X X X X

X X X X X X no X X X X

This article was downloaded from Porter & Companys web site at www.porterandcompany.com Contact Porter & Company at (800) 304-6700 for any questions regarding this article or related subjects.

Peachtree Software Peachtree Complete Accounting 7.0

no X Both X no X no X X X X X X X X X no X X X X X X X X X X no

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Accounting Software Features Comparison (contd)

MYOB Accounting Plus 9.0

Quickbooks Pro 2000

ACCPAC Simply Accounting 7.0

TOP 12 FEATURES

Accounts Receivable Function Aging based on actual date Aging mirrors payment terms Supports recurring billings Can deposit to multiple banks Accounts Payable Functions Aging Reports Cash requirements reporting Aging based on invoice date Vendor histroy detail reports Supports recurring invoices Tracks & processes 1099 data Maintains vendor type codes Can pay out multiple banks Pricing Single user Multi-user (5-users)

X X X X

X X X X

X X X X

X X X X X X no X

X no X X X X no X $219 $499

X X X X X X X X

$99 Available next version

$179 $575

Note: A modified version of this article was published in CAIs Ledger Quarterly, Summer 2000 Issue

This article was downloaded from Porter & Companys web site at www.porterandcompany.com Contact Porter & Company at (800) 304-6700 for any questions regarding this article or related subjects.

Peachtree Software Peachtree Complete Accounting 7.0

X X X X X X X X X X X X $229 $599.95

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