The Peachtree accounting system is a computerized accounting system that allows users to post entries to journals, ledgers, and subsidiary ledgers all at once. If you have taken Principles of Acct 1 or 2, you know about debits and credits, and about posting those debits/credits to certain accounts and in different ledgers, journals... Instead of posting in cash disbusements jounals then again in the subsidiary journal, etc., Peachtree allows you to enter the information one time into the appropriate journal, then it posts everywhere else for you. You can enter the original entry in cash disbursements, cash recieved, or in the general journal. It saves a ton of time and headache. Peachtree will also make adjusting and closing entries for you at the end of the period with the push of a button. It's really user friendly. It will generate balance sheets, income statements, statements of retained earnings, and cash flow statements. It will print and keep track of invoices (both sent and the invoice numbers of those received), it will print collections letters. It also keeps track of vendors, customers, and employees. It maintains vendor info, like contact people, phone numbers, addresses, and purchase history. It can be used to keep track of customers and certain customer attributes, as well as purchase and payment history, and it will also keep a list of employees, employee information(adresses, phone numbers, social security numbers, and tax withholding info. It will prepare and print payroll checks (it deducts the taxes and stuff for you). It has several different formats of any printable document (purchase orders, sales invoices, paychecks, regular checks for payments, etc. It's pretty handy stuff. It is one of the most user friendly accounting software packages out there. I graduated last spring with Bachelors degree in Accounting, and used Peachtree during my senior year. For what it's worth, I compared it to two other accounting software programs and found Peachtree to be the better program. Hope that helps!