Get with the Program

But which program should you purchase? Are they all the same, or does one suit your specific needs better than another?

In this article, the four accounting software programs in review are QuickBooks Pro 99, Peachtree Complete Accounting Plus Time & Billing 7.0, Mind Your Own Business (M.Y.O.B.) Accounting Plus 8.0, and Peachtree One Write-Plus 7.0.

Where to Begin

Start your search by making a list of all the features you require. If, for instance, you work with payroll, find out whether or not the software you're considering can prepare 940, 941, W2 and W3 forms. And when the IRS updates tax tables, will your accounting software company send you an upgrade for free, or is there a charge?

Do you need a program that can calculate finance charges on past-due invoices? Is your business on a network and do you want more than one user to access the accounting software simultaneously?

As a double check in deciding on your software requirements, gather all the forms and reports you currently use, such as checks, invoices, tax forms, collection letters, and profit and loss reports. Then find out if and how the software you've chosen will generate these forms and information.

Also, before you buy, consult your accountant. He or she may have some insight into which program would be best for you, and which would interface well with his or her system for preparing tax returns or financial statements.

The Lowdown

Accounts Receivable/Payable, Payroll, and General Ledger are basic accounting software features - the bare bones. What differentiates software packages is their depth and flexibility of these basic features, the number of advanced features (such as tracking inventory, interfacing with other programs, or internet payroll services), and the ease of use.

QuickBooks Pro 99

Thumbs-Up: QuickBooks Pro 99 is the latest from Intuit and is a recent upgrade from QuickBooks Pro 6.0. QB Pro 99 includes a variety of new features, including a built-in stopwatch to track time and the ability to print on deposit slips.

Friendly to newcomers, QB boasts the "QuickBooks Navigator," a tour guide of sorts, which walks you through various processes, such as setting up a new customer account. Visually sharp, QB's colorful and descriptive icons assist users in getting from one screen to the next.

Like other advanced programs, QB interfaces with Microsoft Excel in order to produce an impressive array of graphs and charts. However, if you're unfamiliar with Excel and would rather avoid using it, QB can generate a variety of graphs on its own.

Other winning perks are pre-written letters for collections, thank-yous, and advertising; the ability to "drill-down" by double clicking on a number in order to investigate its source; over 100 customizable reports; the ability to add your company logo to invoices and statements; and good customer support. QuickBooks Pro 99 is the only program of the four in review that can have unlimited years opened simultaneously for comparison purposes.

Thumbs-Down: In order to print checks from QB, only completely blank checks (no lines, no pre-printed text), or Intuit checks supplied by QuickBooks will work. Otherwise, your computer-printed text will not line up correctly. And there's no way to re-format the layout of the check in order to rectify this problem.

For users who only need basic functions, QB is heavy on bells and whistles. While the program is user-friendly, the number and depth of options can make QB seem overwhelming.

Peachtree Complete Accounting Plus Time & Billing 7.0

Thumbs Up: Peachtree and QuickBooks are very similar programs. In an ongoing battle of one-ups-manship, if one adds or tweaks a feature, watch for the other to copycat it in their next upgrade.

One feature Peachtree has over QB (at the moment), and every other program in this review is fixed asset tracking; it lets you know what you've invested, and calculates the depreciation on your furniture, fixtures, computers, machinery, etc.

Other Peachtree highlights include its ability to do one-step deposits. (In M.Y.O.B. and QuickBooks, receipts are entered, and then the deposit is made as a separate step.) Then there's the Peachtree "smart guide," a context-sensitive informational box which pops up to help you through whatever you're working on. (This can quickly become a "thumbs-down," as it can get intrusive and annoying. Luckily, the feature can be turned off.)

For companies that sell products on the web, PeachLink is a great tool. You can create a basic catalogue of products to post on your web site, receive on-line orders from customers, and voila, PeachLink will zap the information to your Peachtree files on your computer. An invoice is automatically created, and your inventory is updated.

Thumbs Down: When it comes time to call Peachtree's customer service line, don't hold your breath for great service. Peachtree also falls short of QB in the area of comparison reports - while QB allows you to have unlimited years open at once, Peachtree will only allow three. Another shortcoming is its lack of user-friendly screen representations. Unlike QB, the entry form for a check doesn't resemble a paper check.

Mind Your Own Business Accounting Plus 8.0

Thumbs-Up: M.Y.O.B. should be a strong contender in any small- to mid-sized business' search. While not as advanced as QuickBooks Pro 99 or Peachtree Complete 7.0, M.Y.O.B. does a good job with the basics, and holds its own with several advanced features.

Because M.Y.O.B. isn't brimming with as many options as QuickBooks Pro 99 or Peachtree Complete, it's generally easier to self-teach. Screens are clear and icons are colorful and descriptive, making M.Y.O.B. relatively easy to use and navigate through. Technical support is also very strong.

With 150 predefined reports and 97 custom charts, M.Y.O.B. remains ahead of most comparable programs. And unlike QuickBooks, M.Y.O.B. allows you to tweak the layout of checks and other forms, so it will accommodate whatever you've got in stock.

Other perks include to-do lists, a set-up wizard to help you enter new company information, time-and-billing options (not available in the previous version), good security features, and the ability to generate graphs within the program itself. Like the other three programs in this review, M.Y.O.B. can execute recurring (or memorized) transactions, an automatic posting of repeated activities such as rent payments, so that users don't have to enter the same data, time after time.

Thumbs-Down: M.Y.O.B. doesn't yet have the capability to "drill down," which means that rather than simply double-clicking on a number in question, you'll have to poke around looking for the source document.

For comparison purposes, M.Y.O.B. comes up a little short since you can only have