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• W319437057 abstract "EXECUTIVE SUMMARY * Microsoft's introduction this year of its small business accounting software is challenging the two leading competitors--QuickBooks and Peachtree--to step up their efforts with products that are ever-more technologically powerful, * The competition will be intense because Small Business Accounting (MSBA) is technologically more advanced than either QuickBooks or Peachtree and its price strategy is hard to beat: It's bundled free in selected 2006 versions of Microsoft Office. With more than 400 million users of Microsoft Office worldwide, even if only a small percentage of them upgrade to the 2006 version, the new accounting program could be in the hands of millions of users by the end of the year. * With products as complex and customizable as SBA software, it's not prudent to rely fully on assessments of reviewers or colleagues. The only way to be sure a product works best for you or a client is to test it with your own accounting data. * If you're going to buy QuickBooks or Peachtree, purchase the accountant's editions. They contain nearly all the additional functionality found in the various other versions of the product and they're typically priced lower. * The stakes in the competition for small business accounting software are high. The current estimated market of small businesses is between 15 million and 25 million, with 500,000 to 2 million new businesses starting each year. Clearly, small businesses will be the winner as their accounting tools continue to improve. If you think small business accounting (SBA) software has made enormous technological leaps in power, speed, sophistication and flexibility in recent years, you ain't seen nothing yet. In each of the past few years, the two leading SBA products--Intuit's QuickBooks and Sage Software's Peachtree--have challenged each other, making their products stronger and easier to use as they battle to expand, or at least maintain, their already huge customer bases. But now the competition is entering a new, more intense stage as giant Microsoft has entered the field with two winning strategies. In many ways its new Microsoft Small Business Accounting (MSBA) product is technologically more advanced than either QuickBooks or Peachtree and its price strategy is hard to beat, as it's bundled free in the 2006 version of Microsoft Office. A five-user stand-alone version sells for $149. With more than 400 million users of Microsoft Office worldwide, even if only a small percentage of them upgraded to the 2006 version, Microsoft's new accounting program could be in the hands of millions of users by yearend. To put that in perspective, consider that currently QuickBooks is the leading purveyor of SBA software, with 90% of the market and an estimated 3 million users. Peachtree, with 9% of the market, reports more than 1 million users. The remaining 1% is made up of a half-dozen other products. To help determine which product is best suited for you and your clients, we will focus on QuickBooks' and Peachtree's new features and only briefly mention the new advances of some of the other products. Since all the functions of the MSBA are new, we will examine only its key functions---especially those we rate superior to its competitors. For an overview of the key functions of the three leading products, see Product Comparison Chart for Selected Features, page 51. Caveat: With products as complex and customizable as SBA software, it's not prudent to rely fully on assessments of reviewers or colleagues. The only way to be assured that a product works best for you or a client is to test it with your own accounting data. INTUIT'S QUICKBOOKS Intuit offers 23 versions of its accounting software, but most are just lighter and less expensive versions of its primary product, QuickBooks Premier Accountants Edition 2006, which more than 250,000 CPAs use. …" @default.
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• W319437057 date "2006-03-01" @default.
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• W319437057 title "Small Business Software Grows Up: Intense Efforts for Product Improvements" @default.
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