Sage 50 was previously called Peachtree Accounting in the U.S. and Simply Accounting in Canada. Peachtree is a well-known brand of accounting software that was acquired by Sage in 1998. The product is desktop accounting software for small and medium-sized businesses, and includes general ledger, payroll, payment processing and inventory capabilities, and integrates with other Sage cloud and online apps.
|Best Fit For:||SMBs with payroll or inventory needs; Small construction or manufacturing companies|
|Most Compared To:||Xero|
|Employees:||7k (entire company, on LinkedIn)|
|Rating Attribute||Sage 50 Rating||# of Reviewers Contributing to Rating Average||Accounting Software Average Rating|
|Likelihood to recommend||8.5||20||8.1|
|Likelihood to renew||8.9||12||8.5|
|Sage 50 Pros||Sage 50 Cons|
|Safety mechanisms; Easy to follow accounting best practices
Sage 50 has built-in safety features that prevent non-accountants from making inappropriate changes that can botch data integrity. For example, it has an audit trail and user-level security settings, and it requires year-end and period-end closing, and does not allow changes to previous years.
The product is not economical, especially for small businesses. Yearly software upgrades are required for those using the payroll and payment add-ons.
Users can create and customize reports, including monthly, quarterly and annual financial reports, balance sheets, income statements, cash flow statements, comparison financial statements across different time periods, and job profitability analyses. The product includes a “Business Intelligence” tool, which in an Excel-based reporting mechanism.
|More flexibility in reporting
Some users would like more options for customizing reports.
|Ease of use
Some users like the ease of use, while others say the product requires an accounting expert to set up, and non-accountants find it difficult to navigate. Some would like to see more training and online documentation.
Strong inventory management and inventory reporting system, including multiple costing methods and multi-level Bill of Materials.
|Lack of “Undeposited Funds” feature
Some users miss the “Undeposited Funds” feature that QuickBooks offers, and must use a workaround in Sage 50.
The product can track multiple divisions, departments and companies, allowing for greater flexibility.