I am a CPA who used to work in public accounting in tax, although I now work for a public utility. The firm I worked for had both QuickBooks and Peachtree. There were plusses and minuses to both, although I preferred Peachtree.

QuickBooks is nice because it is so prevalent for small business that many companies (payroll, banking, etc) have compatible interfaces for it. It is also very user-friendly which makes set up a breeze. The online version does work pretty slick for passing off an accountant's version to your CPA who can use it for your tax return, make adjusting entries and then import the changes back into your working version. Most mid and small CPA firms have QB because of how many clients use it. Now the bad. It is almost too user friendly and this causes issues. It will allow you to set up accounts without account numbers, you can delete transactions without going through the sub ledgers, this can cause your AP aging to not match your trial balance, etc. Overall it is a pretty easy program for someone without accounting knowledge to make a disaster for your accountant.

Peachtree requires a little more set up for the reports, but otherwise, in my opinion is a better program. It operates like a general ledger program should and does not allow for as much user error. It also has a much better inventory module than QB if that is important. Keep in mind that the last time I really used either program was three years ago so QB may have made some strides to catch up. If it were me I would use Peachtree.

Either program should do more than enough. I would second the recommendation to make sure whatever you choose to make sure your accountant has it at their firm as well. This may be where QB has the advantage.