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Recession may be over, but recovery is painful
Recession may be over, but recovery is painful
Survey of top economists by National Association of Business Economics finds more than 80% believe the worst is over, but recovery will be slow and painful.
Key financial firms received a wide range of assistance during the past year. But scroll over their stocks and you’ll find few winners – and plenty of losers.
NEW YORK (CNNMoney.com) — More than 80% of top economists believe that the recession that started almost two years ago is finally over. But most don’t expect meaningful improvement in jobs, credit or housing for months to come.
That’s according to a survey released Monday by the National Association for Business Economics (NABE). The group asked 43 top economists last month if they believe the battered U.S. economy has pulled out of the worst U.S. downturn since World War II. Those surveyed include economists from leading Wall Street firms and major corporations, as well as from highly respected universities and research firms.
Thirty-five respondents, or 81%, believe the recovery has begun. Only four, or 9%, believe the economy is still in a recession. The other four say they’re uncertain.
Economists in the survey forecast that the U.S. economy grew at an annual rate of 3% in the three months that ended in September, though the official reading of gross domestic product won’t be out for weeks.
And all of the economists surveyed expect the recovery to be slow and painful, leaving many people and businesses feeling the effects of the downturn for years to come.
The only organization that can officially declare the beginning or the end of a recession is the National Bureau of Economic Research. But that group doesn’t make any sort of declaration until months after the fact, in order to take into account final readings of various economic measures such as employment, income and industrial production. For example, the NBER didn’t declare that the recent recession had begun in December 2007 until a full year after the fact.
The NABE survey results echo comments made by many other prominent economists who have recently said they think the economy hit bottom at some point this summer.
Most notably, a recent statement from the Federal Reserve declared that economic readings “suggest economic activity has picked up following its severe downturn.”
Still, the NABE survey found that economists are forecasting lingering weakness in the labor and housing markets, and that the tight credit markets will continue to be a drag on economic growth into next year.
Unemployment, which was at a 26-year high of 9.8% in September, is forecast to hit 10% during the last three months of this year, and stay there through the first quarter of 2010. By the end of next year, it’s only expected to fall back down to 9.5%.
About 54% of those surveyed don’t expect the economy to regain the jobs it lost during the recession until 2012, while another 38% expect that to take even longer. Just three of the economists that the NABE spoke to expect these jobs to come back in 2010 or 2011.
And many don’t think the worst is over yet for housing either. About a third of economists believe that home prices won’t bottom out until early 2010 or later, while a quarter of them believe the low will come in the fourth quarter.
Half of those surveyed expect the financial markets to continue to be a drag on the economy until next year, while 30% of them said that trend could continue into 2011.
The NABE last surveyed economists in May, and they were far less optimistic at the time. Only 18% of them thought the economy would recover in the last quarter of 2009, while 7% saw a turnaround sometime in 2010.
Making sure you have a great accounting program will help you to make sure you have your business running in everything you need. Peachtree Quantum by sage is an excellent choice to use.
Product Comparison of Peachtree
Are you pushing the limits of your current accounting solution?
Then Peachtree by Sage – Quantum is for you. It’s designed specifically for mid-sized companies with up to 250 employees and is available at a lower cost than most competitor solutions.
Peachtree Quantum provides user-friendly tools with robust functionality, including:
- Project tracking
- Comparative budgets
- Easy access to lists
- Synchronization with ACT! by Sage and Microsoft ® Outlook ®
- Crystal Reports ® 2008
- Payroll
- Integration with UPS ® shipping
- Electronic bill payment
- Online bank reconciliation
- Integration with Microsoft Excel ® and Word for easy communications
Peachtree Quantum comes with a 90-day, no-risk, money-back guarantee and one year of unlimited access to support, product updates and upgrades.
Compare Peachtree Quantum against…
QuickBooks Enterprise Solutions 9.0
Compared to QuickBooks Enterprise, Peachtree Quantum users experience:
- Up to 90% faster save times
- Proprietary technology called SmartPosting, which yields increased performance in saving transactions and allows users to complete more work in less time in most-used areas such as:
- Invoices
- Sales orders
- Purchase orders
- General ledger
- Aged payables
- A lower total cost of ownership
- A lower cost per user
Mid-market solutions
Compared to mid-market solutions, Peachtree Quantum users experience:
- A lower total cost of ownership – you save tens of thousands of dollars in license and maintenance fees
- Direct support from the vendor versus a reseller
- Just the right amount of functionality – you don’t pay for features you don’t need or use
- A solution that is easier to use and train staff on
Excel or other manual solutions
Peachtree Quantum is easy to use and gets you organized, so you can spend more time running your business. Get the accuracy and control you need to have confidence in your numbers with:
- Internal accounting checks
- Comprehensive audit trails
- Prior period locking
- Module- or screen-level security
Plus, increase your profitability with better decision making thanks to:
- The Business Status Center
- Robust reporting
- Detailed financial statements
Bookkeeper/Office Manager
As the bookkeeper/office manager, you and your team need a solution you can rely on to help you do your job better and keep the office running smoothly. It must offer comprehensive accounting functionality, be easy to use and allow you to easily create professional financial reports.
Peachtree by Sage Quantum delivers all of this, plus:
- “My Dashboard” that you can customize according to each individual user’s preference and display as much or as little information, all organized for the way you work
- More than 140 customizable reports that give you the data you need – the way you want it – to recognize opportunities and provide the owner with information to steer your business and help increase profitability
- “Internal Accounting Review” that saves you time by running up to 15 checks on your data at any time to find potential order entry mistakes
- The ability to accommodate up to 40 users with role-based security and audit trail to help make sure your team sees only the information they need
- Collaboration tools to better track all the moving parts of the order process so nothing gets missed, easily notifying the next person in the process that the status has changed so everything moves along as planned
Q: Why should I consider Peachtree Quantum?
A: Peachtree Quantum is designed for larger companies that have 5 or more users and require a high capacity, high performance, accounting application.
Q: I’m not currently using a Peachtree solution. How easy is it to migrate my data to Peachtree Quantum?
A: Converting data to Peachtree Quantum follows the same simple and flexible process used to migrate data to other Peachtree products. Specifically, Peachtree Quantum includes conversion utilities to migrate data from QuickBooks, One-Write Plus and DacEasy. In addition, customers may selectively import accounts receivable data, accounts payable data, payroll data, general ledger data, inventory data, jobs data and time/expense data from a comma separated text file field by field.
Q: Is Peachtree Quantum guaranteed?
Not all business owners have the luxury of hiring a full-time staff member just to take care of accounts payable, accounts receivable, inventory, payroll and other essential bookkeeping functions. In fact, when a business is just getting off the ground, it’s sometimes up to the founder herself to cover the accounting end of operations whenever she gets a free moment. Needless to say, simplicity and ease of use take top priority.
Peachtree quantum presents all of this complicated information in a user interface that’s easy to navigate. The importance of user-friendly software design cannot be overstated, especially when a “non-numbers person” is taking the helm. Those who are already familiar with Quickbooks will find that Peachtree is even more intuitive.
Keeping business growing easily helps with inventory control
A good thing to keeping your business to grow easily is making your customers happy. Keeping a 100% inventory is the best thing. Keep on re-investing into your business by having more in your inventory. That way, when you receive an order, you can get it out the same day. Customers really love that kind of service.
Keeping your customer service level really up to par is one of the most important tool to use. Same day shipping and exceeding your customers expectations is another thing. Making sure you do follow up if the order is large, and the order is correct each and every time, will help your customers to come back. When your customers are happy, they will spread the word, and you’ll gain more customers. Having a good accounting program to keep your inventory in control is the best thing. Peachtree quantum by sage is a great choice to use.
Nonprofits
Nonprofit organizations, including religious organizations, legal aid providers, educational institutions and social/civic associations, face unique challenges. From shrinking contributions to increasing financial scrutiny from donors and Boards of Directors, and volunteer staff not skilled in basic accounting functions and procedures, nonprofits need an accounting solution that is straightforward and simple to use yet powerful enough to offer the detail necessary to meet organization requirements. Peachtree by Sage — Quantum provides these organizations with a solution that makes it easy to manage payables and receivables with additional tools to meet organization’s needs for reporting, security and ease of use.
Nonprofit challenges
- Reductions in staffing
- Increasing scrutiny by Boards, donors, grantors
- Lack of accounting expertise by volunteer administration
How Peachtree Quantum can help
Peachtree Quantum helps you address these challenges by providing nonprofit organizations full core accounting functionality in an easy-to-use package with detailed reporting capabilities that illustrate how donated funds have been utilized.
Peachtree Quantum provides:
- Complete core accounting functionality
- Easy to use operation
- Detailed reports
- Four-years of budgeting and account segment definitions
- Advanced financial statement filtering
- One-year unlimited access to support, updates and upgrades
Small Business Manufacturing
Manufacturing organizations like yours, especially those in the small to mid-sized segment need to focus on the markets and business processes that are producing results while working to improve operational efficiency and enhance customer response. To do so, you require in-depth visibility and insight into the information at the heart of your manufacturing business. Peachtree by Sage – Quantum Manufacturing Edition powered by Manufacturing Information Systems, Inc. (MISys, Inc.®) delivers not only the core accounting features you need, but a rich manufacturing-based feature set that helps drive efficiency, customer satisfaction and profitability. Peachtree Quantum by sage has more accounting functions better than any other accounting program
Manufacturing industry challenges
- Increasing operational costs
- Increasing material costs
- Inconsistency in order volume from customers
- Need to maintain profitable output with fewer headcount
- Increasing global competition
- Increased competition from large suppliers moving down market
How Peachtree Quantum Manufacturing Edition can help
Peachtree Quantum Manufacturing Edition helps you address these challenges by providing core accounting functionality with advanced manufacturing features powered by MISys. Do more with less by using workflow capabilities that help you increase efficiency, while being cost effective, improve assembly processing, make inventory management more predictable, reduce delivery times and create greater customer satisfaction. Peachtree Quantum Manufacturing Edition offers tools that are right for growing job shops to large make-to-stock and make-to-order manufacturers.
Peachtree Quantum Manufacturing Edition provides:
- Extensive tracking of manufacturing inventory and work in process (WIP)
- Multi-level bills of material with full explosion down to 16 levels deep
- Net-change physical inventory with cycle counting
- Batch-oriented or direct entry of all stock transfer transactions
- Full back flushing of all assembly transactions
- Choice of standard, average, LIFO, or FIFO costing methods
- Cost adjustment with roll-up through all BOM levels
- Stock check processing to identify impending shortages
- Work orders to document and track production activity
- Configurable alerts to show you critical events and status
- Additional modules to extend capabilities in Advanced Purchasing, Advanced Production, Material Requirements Planning
- Custom manufacturing reports
- One-year access to priority support, updates and upgrades
Small Business Wholesale and Distribution
Small Business Wholesale and Distribution
As a small to mid-sized distribution organization, you face a broad set of internal and external challenges around inventory management, procurement, pricing and escalating customer demands as you struggle to remain competitive and grow your business. Peachtree by Sage – Quantum empowers your organization, giving you unprecedented visibility to become more productive, make better decisions and achieve better business results. Peachtree Quantum by sage really offers alot more than Quickbook Enterprise and will give you the accurate results you need for your honest business.
Distribution industry challenges
- Increasing operational costs
- Shortage of available working capital from traditional sources
- Increasing global competitive pressure
- Reduced availability of partners
- Need to do more with less
- Increased competition from large suppliers moving down market
How Peachtree Quantum can help
Peachtree Quantum helps you address these challenges by providing distribution organizations core accounting functionality with advanced distribution features. Compare your operational costs to competitors with Business Analytics so you know where to make improvements. Do more with less by using workflow capabilities that help you increase efficiency, while being cost effective.
Peachtree Quantum provides:
- Multi-quantity unit buy/sell capability
- Serialized inventory
- Multiple costing methods
- Establish minimum stocking levels and reorder quantities
- Flexible pricing tools: volume discounts and quantity-based pricing
- Custom reporting to manage distribution operations
- One-year unlimited access to support, updates and upgrades
Small Business Construction by Peachtree
Small Business Construction
As contractors and sub-contractors, you are probably scrambling for work opportunities, as well as face increasing competition from larger firms looking at smaller opportunities to offset their own business challenges. As a result, it is critical to have more accuracy and better visibility into your business’ performance. Small and mid-sized construction organizations like yours find Peachtree by Sage – Quantum an invaluable tool that provides the right amount of accounting functionality, construction-specific features and business analytics tools to help you achieve better results at a budget-friendly price.
Construction industry challenges
- Increasing material costs
- Shrinking business opportunities
- Extreme margin pressure
- Increasing competition from large suppliers moving down market
How Peachtree Quantum can help
Peachtree Quantum helps you address these challenges by providing core accounting functionality with advanced construction features. Better manager your materials costs with strong inventory management tools. Compare your business financials to competitors with Business Analytics so you know where to make improvements. Understand your margins better by using the labor burden calculation, job costing and other fixed costs tracking tools in Quantum to meet the demands of an ever evolving environment. Peachtree Quantum by sage has all of your accounting needs to do help you have a successful business.
Peachtree Quantum facilitates:
- Progress billing
- Retainage
- Labor burden calculations
- Job work-in-progress reportings
- Payroll overhead rate tracking
- Tracking of insurance expiration dates for sub-contractors
- Bill of material tracking
- Custom construction planning reports
Now more than ever, accounting firms like yours who service the small to mid-sized market segment are being asked to support evolving client needs to help fuel future client growth, as well as your own practice. Meeting the needs of this dynamic market requires you to be at the very top of your game with the ability to provide accurate and detailed business information that clients can rely on to make sound decisions to generate growth and profits.
Peachtree by Sage – Quantum offers accounting firms a single, powerful and flexible accounting solution to address multiple client files, while providing a single access point to create and modify files from any Peachtree product format your clients might have.
Accounting industry challenges
- Increasing workflow resulting from multiple client needs, files and practices
- Increasing customer demand for faster information delivery
- Increasing client demand for more business performance analysis
- Increasing company mergers, consolidations
How Peachtree Quantum can help
Peachtree Quantum helps you address these challenges by offering accounting firms a versatile resource to serve their client’s needs easily and effectively. Accountants using Peachtree Quantum can create, open, modify and save client files from any version of Peachtree Accounting as well as handle complex tasks like company consolidation, file backup and restore, compensation history tracking and budget tracking for up to four years.
Peachtree Quantum provides:
- Single point of access to multiple client files
- Easy file back up and restore functionality
- More than 145 customizable reports
- One-year access to priority support, updates and upgrades
Sage Accountants Network
The Accountants Network is for accountants who insist on staying current on trends in accounting and business management solutions. The program offers you flexible access to information, software and services that allow you to respond to your clients’ needs – without investing a great deal of time and money.
Members of the Accountants Network receive:
- Online listings in the member locator
- Priority access to experienced support specialists
- Product upgrades/updates and payroll tax tables
- Access to valuable discounts on business services and products
With widespread job cuts and a recession to deal with, it’s not easy to maintain a positive outlook at work these days. But being upbeat, despite the stress, could actually help you thrive during a downturn.
“Most people make the mistake of thinking that success leads to happiness. In fact, our brains work precisely the other way around,” says Shawn Achor, head of Aspirant, a consulting firm that advises clients like Microsoft (MSFT, Fortune 500), American Express (AXP, Fortune 500), Credit Suisse (CS), and UBS (UBS) on how to keep morale and productivity up in these extraordinarily difficult times.
A positive approach to the daily grind, he adds, “gives rise to resilience, energy, and the ability to influence other people — all things that create success.” Having an great accounting team helps as well. Use a good quality accounting program like Peachtree Quantum by sage.
So if you want to come through this downturn with flying colors — and maybe even a promotion or a raise — you need to think positive.
Did you know that the top Accounting Software was Peachtree by sage. Peachtree ranked the best for ease of use, Help Documentation, Accounting Receivables and payables. Next was MYOB, then Quickbooks. Peachtree is really easy to use, and has a excellent system set up. The 2010 Peachtree by sage, has been really been upgraded alot more. You can see more of what your doing for your customers and inventory.
Quickbooks has done some upgrade, but not like peachtree has. If you use fixed assets, peachtree is the best program to use. Just try it for your self and see how much you like the program. Its easy to import from QB to Peachtree accounting. Peachtree Quantum by sage offers at least a 10 user edition for various industries.
