SBDCNet National Information Clearinghouse

Web-Based Accounting Services 02/26/01

02/26/01

Web-Based Accounting Services

Web-based information services are proliferating and presenting small business owners with delicious dilemmas. The most daunting task is to keep informed of the new services available on the web. Well, here comes another evolution in information processing as reported in PC Magazine (http://www.pcmag.com) (Feb. 20, 2001 pp.145-152).

Many business owners are still struggling to learn how to use their Peachtree Accounting or QuickBooks Pro accounting software. Both Peachtree Software (800-228-0068;http:// www.peachtree.com) and Intuit (800-446-8848; http://www.quickbooks.com) have introduced web-based accounting services. ePeachtree, Release 3.0 and QuickBooks for the Web are competing with a new entrant in the online general ledger race, NetLedger,Version 5.0 (800-638-5334; www.netledger.com).

PC Magazine reviewed all three and found NetLedger to be superior due to its e-commerce tools including the ability to provide online payment and collection services. Should you jump on this fast-moving band wagon? Not just yet. At least for now, the PC based packages still rule the day when comparing available features. Speed and security are issues with all of the online accounting services but as technology improves these issues will pale in comparison to the convenience, level of service, and low cost. The table below compares the three web-based accounting services:

Feature	ePeachtree 3.0	NetLedger 5.0	QuickBooks for the Web
Cost	$9.99 per mo.single user/ $4.99 each add'l user	$9.99 per user per month	$14.95 per month unlimited users
Set Up	Good	Good	Good
Inventory	Fair, Avg. cost only	Good	Poor
General Ledger	Very Good	Very Good	Fair
Acct. Payable	Good	Very Good	Fair
Acct. Rec	Good	Very Good	Fair
Payroll	Good	Very Good	Poor
E-commerce tools	NA	Very Good	NA
Reporting	Good	Very Good	Fair
OVERALL	Good	Very Good	Fair

For more information:
Web-Based Accounting

Web Features and E-Commerce Chart (compares accounting software)

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SBDCNet Team

Gloria Allen
Carolyn Ellis
Peter Morales
Sarah Barrette
Paula Fantegrossi

Guillermo Barreto-Vega
Perry Byers
Linda Hernandez
Jane Nolasco

Judith Johnson
J. Eric Lomeli
Juan Cueva
Armida Hernandez

Co-Editors: Carolyn Ellis & Judith Johnson

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This U.S. Small Business Administration (SBA) Grant is funded by the SBA. SBAs funding is not an endorsement of any products, opinions, or services. All SBA funded programs are extended to the public on a nondiscriminatory basis.

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SBDCNet National Information Clearinghouse

Web-Based Accounting Services 02/26/01

Web-Based Accounting Services

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