SOURCE: Sage Software

June 13, 2005 09:00 ET

Sage Software Introduces Peachtree by Sage Premium Accounting for Construction

One of Two New Industry-Specific Flavors of Peachtree Premium Accounting; Now Available for Small Construction Businesses, Offering a Migration Path Up to Industry-Leading Timberline Office

ATLANTA, GA -- (MARKET WIRE) -- June 13, 2005 -- Sage Software today announced the general availability of its new accounting software for small construction businesses: Peachtree by Sage Premium Accounting for Construction. This new vertical industry product debuts as part of the Peachtree Accounting 2006 line, which also includes versions designed for manufacturing, distribution, accountants and nonprofits, in addition to the general accounting editions of the award-winning Peachtree products.

"Peachtree has long been popular among small construction businesses. As profit margins tighten and the market grows increasingly competitive, small construction companies need a system that will allow them to spend less time on accounting and more time focused on mastering their trade and running their businesses," said Jim Portner, vice president of product management, Sage Software. "With the release of Peachtree Premium for Construction, we've brought strong, industry-specific functionality together with the trusted accounting capabilities for which Peachtree is well known, to help our construction customers better manage their bottom lines and free up their time to get the job done."

Maintaining profitability and controlling costs are keys to success, and Peachtree Premium for Construction helps small construction companies accomplish these goals. The product's robust Job Cost integration tracks cost and revenue information down to fine detail for every job, enabling construction companies to compare the job estimate versus actual cost, helping them to manage more closely the overall financial health of their company. The new Job Work-in-Progress report offers contractors the ability to see which jobs are generating revenue and which ones are not. This report is a key indicator of a contractor's financial position and necessary to obtain bonding and loans, and will enable small contractors to report on critical numbers quickly, when they need them.

Additional features in Peachtree Premium Accounting for Construction include:

--  Track Subcontractor Insurance: For easier vendor management, users can
    now store subcontractor company name, policy number, policy limit and
    expiration dates. Peachtree will even notify the contractor when they try
    to enter a transaction with a vendor that has an expired policy.
--  Apply Labor Burden to Jobs: Peachtree Premium Accounting for
    Construction 2006 easily allows the contractor to apply a labor overhead
    rate, factoring in taxes, insurance, benefits and more, and assign it by
    job or company wide to accurately determine job profitability.
--  Progress Billing: For improved cash flow, Peachtree allows invoices to
    be created based on the job's current progress, streamlining the process
    and allowing builders to bill clients throughout the building cycle.
    Billing can be calculated on either a percentage based on the total
    estimated job revenue, percentage completed or percentage based on the job
--  Calculate and Apply Retainage: Retainage tells the contractor exactly
    how much their customers are holding back from them, and how much they
    should be holding back from their subcontractors. Peachtree Premium
    Accounting for Construction 2006 calculates retainage for companies using
    accrual-based accounting based on a user-defined percentage, lists
    retainage on invoices, credit memos and customer statements, and even
    enters it on vendor invoices.
Growing companies recognize Peachtree as a powerful tool to help them manage current and future growth, and Sage Software offers the assistance they need to manage that growth. Earlier this spring, Sage Software announced the Peachtree Third Party Add-On Program, extending the functionality of the Peachtree product line through integrated third-party solutions, such as Production Scheduling from Builder MT. Created for the residential homebuilder, Production Scheduling provides improved communication between the job site and the home office as well as between the job superintendent and the vendor. For companies who outgrow Peachtree, a clear migration path is available to industry leader Timberline Office.

Pricing and Availability

Peachtree Premium Accounting for Construction is currently available direct from Sage Software. Single user versions are available for $599; Multi-user (5 seat license) is available for $1199. For more information on this product, other products in the 2006 line, or the Peachtree Third Party Partner Program, please call 877-495-9904 or visit

About Sage Software (formerly Best Software)

Sage Software offers leading business management products and services that support the needs, challenges and dreams of more than 2.4 million small and mid-sized customers in North America. Its parent company, The Sage Group plc (LSE: SGE.L), supports 4.5 million customers worldwide. For more than 25 years, Sage Software has delivered easy-to-use, scalable and customizable applications through its portfolio of leading brands, including Abra, ACCPAC, ACT!, BusinessWorks, CPASoftware, FAS, MAS 90, MAS 200, MAS 500, MIP, Peachtree, SalesLogix, and Timberline Office, among many others. For more information, please visit the Web site at or call (866) 308-BEST.

© 2005 Sage Software SB, Inc. All rights reserved.

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