Abundant Options for Mid-Range Accounting

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• December 2006 Issue
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In our September 2006 issue, we examined the current field of mid-range accounting programs, a growing market that shows considerable diversity in the available programs. (You can access this review in the archives at www.CPATechAdvisor.com.) During the year, this magazine also reviews small business accounting products, not-for-profit systems, and high-end systems designed for larger entities (see the high-end accounting review in this issue on page 38). As we determine where specific products fit, programs occasionally get missed or opt not to participate because their most recent release isn’t ready in time for the review. Such was the case with the review of mid-range accounting products.
Specifically, there are three additional major options on the market that should also be considered when a business outgrows its low-end accounting system: QuickBooks Enterprise, Peachtree Quantum and Microsoft Small Business Financials. While every entity searching for a new mid-tier accounting and business management package has varying reasons for the change, the reasons generally include the need for more concurrent users, greater support for inventory or manufacturing, higher-volume processing or improved integration with other programs.
The factors driving the desire or need for a change of software systems, in addition to the projected needs of the company in the next few years, are the keys to finding the best accounting application for that entity. So first determine the business needs, then consider the products featured in our September mid-range accounting review as well as the following three mid-range accounting systems.
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Intuit — QuickBooks Enterprise Solutions
www.QuickBooksEnterprise.com
Version 7.0 of Intuit’s mid-market QuickBooks Enterprise is geared straight at the growing business, keeping the simplicity of QuickBooks that many small companies are used to but also delivering additional capabilities that enable the system to handle the needs of businesses that have outgrown their regular SMB accounting system.

For starters, QuickBooks Enterprise supports up to 20 concurrent users and sports all of the traditional features found in the Pro and Premier editions, with additional features including support for SQL databases and remote locations, as well as stronger financial management tools. Enterprise’s interface utilizes a customizable flowchart/business process model, which simplifies most common tasks and eases processes such as turning estimates into invoices with a single click. QuickBooks Enterprise offers great integration with MS Word and Excel for report generation and customization and client correspondence and data analysis, as well as with Outlook for appointment scheduling and contact management.

In keeping with all QuickBooks systems, Enterprise is simple to learn, especially for those already using another version since the interface and all functions remain the same across most of the versions. And since the programs are built upon the same code base, no data conversion or transfer is required for upward transition from the other QuickBooks versions. Enterprise utilizes standard double-entry accounting methods and includes integrated GL, AP, AR, invoicing, payroll capabilities and job costing functions. The program’s inventory also supports multi-part assemblies and other advanced tools. Enterprise also includes a full-time audit trail.