Because not all entrepreneurs have an advanced knowledge of accounting, accounting software must be easy to use and install. A good graphical user interface would be a good place to start. An example of this is Peachtree Complete by Sage Software. While Peachtree is jam-packed with helpful tools and features, it still remains user-friendly. It also contains a very comprehensive FAQ support to get you out of dead ends when using the software for the first time. It also maintains a good data structure so that you always know where you are in the dizzying sea of figures in front of you. Your transactions are arranged in order so that you always know what to do next. When it comes to accounting tools, Peachtree Complete pulls out all the stops. From payrolls to banking to job costing, Peachtree provides you with enough applications to create accurate and organized financial statements. Another good product is MYOB Business Essentials, developed by MYOB US. Although it is cheaper than Peachtree, it is quite limited in features and tools. Some of the absent features include shipping cost estimates, activity status of employees and vendor credit memos. However, it boasts of a centralized preparation of reports. From the program’s Command Center, everything is easy to find. This helps you manage your tasks and accomplish your statements in a shorter amount of time. If you need more hands to do the accounting job for you, Quickbooks Pro 2009 is the most suitable accounting software for your business. Because it allows up to 5 employees to access the program simultaneously, collecting financial data from different areas of business becomes a breeze. With Quickbooks, you can also import data from Microsoft Excel, Quicken and Microsoft Office Accounting. Paying credit card debts is also a built-in feature of the program. This saves you from mailing your payments or securing a separate online payment service to settle your accounts. One drawback of Quickbooks is that it takes a while to get used to. The labels and names are not similar to those found in Peachtree or MYOB. However, once you get the hang of it, Quickbooks proves to be an excellently intuitive accounting software product.

While Peachtree Complete may be the best and most expensive among accounting software products, it may be too complete for the needs of small businesses. Small businesses may make do with cheaper software such as MYOB, while others need intensive accounting features present in Peachtree and Quickbooks. To make the right choice, it is always best to consult a business expert or read product reviews online.