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PEACHTREE COMPLETE ACCOUNTING- SECTION III & IV
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Section III: Reporting
The Peachtree Complete Accounting software allows transactions to easily be recorded.
Likewise, the system stores all relevant information concerning transactions, including what was
purchased or sold, the vendor, and the customer. Storing all of this information is helpful, but it
is not useful if the information cannot be manipulated and gathered by a set of particular
parameters. This is why the reporting function of the software is so important. The information
derived from such reports can easily be used to make important managerial decisions, which can
have a drastic effect upon the future of the company.
Revenue Cycle Reports
A company’s revenue cycle can play a critical role in managerial decisions. The revenue
cycle essentially brings money into the organization. Without an understanding of the position of
revenue within a company, managerial decisions could be made which would jeopardize the
longevity of the company. Peachtree Complete Accounting software allows for a number of
revenue cycle reports to be pulled including sales reports, accounts receivable reports, and cash
flow reports.
Sales Reports. The sales report is customizable based upon any given date parameters.
This allows management to look at the revenues generate in a specific day, week, month,
quarter, or year. For ease of use, the Peachtree software allows the sales report to be exported
directly into Microsoft Excel for easy manipulation and configuration. Such information can be
beneficial for a company so that they can analyze the efficiency of sales staff. Likewise,
monitoring revenue streams is also vital for managerial decisions. If sales are low, management
can make the decision to delay any purchases or make operational changes to improve
PEACHTREE COMPLETE ACCOUNTING- SECTION III & IV
efficiency.
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Aged Receivable Report. The aged receivable report allows managerial staff to manage
unpaid purchases made on credit by consumers. This report not only allows managerial staff to
see which customers have an outstanding balance, but also the amount due and the length of
their repayment. Additionally, the report can show management how often customers pay their
invoices on time. This can be vital information on collecting needed cash for operations and for
making decisions regarding the issuance of credit and discounts to consumers.
Cash Flow Report. Peachtree’s cash flow report provides management with a top-down
view of all of the money moving in and out of the company. Moreover, the information found in
the cash flow report allows management to determine what the money is being used for.
Managerial staff can then use this information to determine how good the company is at making
money and how effective they are at managing the debt the company has taken on.
Expenditure Cycle Reports
Likewise, proper managerial decisions cannot be made without understanding the
expenses the company has undertaken throughout the year. After review of the revenue cycle, a
review of the expenditure cycle will allow management to determine how much can be spent to
continue growing the business safely. Just as there are many reports for the revenue cycle, there
are also many reports for the expenditure cycle including aged payables reports, registers, and
vendor management.
Aged Payables. The aged payables report assists managerial staff in managing unpaid
purchases made on credit by the company. Additionally, the report can show those accounts
PEACHTREE COMPLETE ACCOUNTING- SECTION III & IV
in danger of losing any discounts that have been given based on timely payment. This is
important because the discounts provided by the vendors for timely payment may be the primary
reason why one vendor was selected over another. If prices increase from tardy payment, the
organization may find that their expenditures are difficult to pay. This in turn could cause cash
and profitability issues for the company. Therefore, managerial staff should use the report to
continuously monitor the company’s expenses.
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Registers. The various registers available in the Peachtree software allow cash
transactions to be recorded as though they are being recorded on a register similar to a
checkbook. This allows for manual entry of transactions into the general ledger. Again, such
report has a customizable date range. Being able to see transactions recorded in this manner can
be beneficial for managerial staff who is investigating a particular issue with a payment or
invoice. Likewise, it is through these registers (separate registers for cash, checks, and credit
card payments) that management is able to reverse any prior transaction that was entered into the
system.
Vendor Management. The vendor management screen and report allows managerial
staff to look into the history of a specific vendor, including purchase history, purchase orders,
payments to the vendor, and the top vendors within the last year. This report allows managerial
staff sort, filter, and total transactions with the vendor. This is highly beneficial in managing
relations with a vendor. Such management may include requesting additional discounts from the
vendor for customer loyalty, or even debating payment information should the need arise. This
report provides all needed information to management in an easy, readable format.
PEACHTREE COMPLETE ACCOUNTING- SECTION III & IV
Financing Cycle Reports
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The reports available through Peachtree Complete Accounting software for the financial
cycle can provide the managerial staff of a company a thorough picture of the financial position
of the organization. Such information can be used to confirm a manager’s estimate of what the
company has available to spend for growth. Likewise, reports drawn from the financing cycle
also help management assess the company’s use of assets, their management of debt, and the
company’s overall profitability.
Balance Sheet. Another report that can be pulled in the Peachtree Complete Accounting
software is the balance sheet. This report can be used by managerial staff to analyze the
company’s current financial position. The balance sheet lists the current value of the company’s
current assets and the current value of inventory and receivables. Additionally, the report lists all
of the liabilities and claims against assets such as stockholder equity. Managerial staff can use
this report to analyze the efficiency in which the organization is using their assets. Likewise, the
balance sheet can also be used to determine whether it is feasible for the company to take on
more debt, and whether such debt should be through liabilities or stockholder equity (Hall,
2011).
Income Statement. The income statement allows managerial staff to examine
profitability of the company. The report pulls together the company’s revenues in relationship to
the expenses, or money going out of the company. This in turn provides the profit that was
generated by the company for the specified period when the report was pulled. This means that
at any given time, managerial staff can examine the profitability of the company. Such
information is highly beneficial in evaluating the efficiency of current operations and
PEACHTREE COMPLETE ACCOUNTING- SECTION III & IV
determining what resources are available for future growth. The statement can also be used to
determine unexpected expense increases and underperforming products as well.
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Gross Profit by Department. The gross profit by department report allows management
to segment the company’s profitability by the department. Analysis using this report looks at
both the revenue brought in by the department as well as the expenses generated by the same
department. Managerial staff can use this report to look for unexpected decreases in profitability
by department. Should they find such an instance, further examination can be made into why
profitability is down. This could then lead to a managerial decision to either make changes to
operations to improve profitability, or close the department down indefinitely to transfer
resources to departments that are more profitable.
Section IV: Evaluation of Software and Final Thoughts
The Peachtree Complete Accounting software appears to be a valuable tool if used
properly. Rather than manually entering all transactions and financial data in physical ledgers,
information can be entered electronically and appropriately categorized. This helps increase the
efficiency of departments across the board that utilize the software. Likewise, the use of the
software helps to eliminate human errors that are often found with manual recording and
calculations.
As soon as information is entered into the system, it immediately becomes available in
reports that are being pulled. This means that at any given time the managerial staff can have an
up-to-date status on the company’s profitability, expenses, available cash, accounts payable, and
accounts receivable. Having current information is highly beneficial as it allows managerial staff
to make the most appropriate decision that will benefit the company. For instance, if the
PEACHTREE COMPLETE ACCOUNTING- SECTION III & IV
company recently signs a note payable with a vendor and it is not manually recorded in the
accounts payable ledger then the managerial staff may make a financial decision that they may
not have otherwise, had the information been available to them.
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Unless former accounting knowledge is held by the user, the more complex functionality
and reporting may be difficult for employees to grasp. While input will be required for
employees at all levels of the organization, pulling reports and other forms of data manipulation
should be restricted to those working in the accounting department, as well as managerial staff
familiar with accounting. If adequate training is not provided to employees at all levels, based
upon their interaction with the software, major errors may occur that may be difficult to detect
without major investigation, which is a drain on company resources.
Not only is the Peachtree Complete Accounting able to process accounting information,
the same system can also be used for customer management, as well as vendor management.
Such information can prove to be pivotal beyond accounting as it can help maintain good
relationships with customers and vendors. Likewise, it also provides important information
regarding the last time a transaction was made, allowing employees to conduct follow-up, which
may have been otherwise skipped. Such follow-up could lead to additional closed sales, and thus
increase revenues. Additionally, the software allows collections to stay current on their accounts
receivable. By maintaining communication with these accounts, the company can collect cash
sooner and simultaneously reduce their accounts receivable turnover rate, which in turn means
more revenues for the company (“2010 Users,” 2010).
The Peachtree Complete Accounting software could easily be used for either a small
business or large corporation. However, it is essential that the main accounting staff of the
PEACHTREE COMPLETE ACCOUNTING- SECTION III & IV
company thoroughly analyze how the software works in entirety to ensure that it will meet the
demands and needs of the organization. As previously stated, training will be required for all
individuals with access to the software. This is primarily to ensure that each employee who will
be using the software is comfortable with how to use it and to mitigate the risk that is undertaken
with multiple users.
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Overall, the Peachtree Accounting Software is highly functional and can easily fulfill the
accounting needs of organizations small to large. The reporting functions of the software provide
managerial staff with vital information that can benefit the longevity of the company, as with its
use the company can make financial decisions based on information that was not previously
available. With the benefits that can be realized with such a software system as opposed to
manual accounting, any organization is bound to quickly recover their capital expenditure
through additional closed sales and collected accounts receivable. Therefore, it is highly
recommended that any company considering an accounting software take the Peachtree
Complete Accounting software into serious consideration.

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