Peachtree First Accounting is a simple version of Peachtree Accounting and Peachtree Complete Accounting.
There are features that are in Peachtree Accounting and Peachtree Complete Accounting but not in Peachtree First Accounting. For example, purchase orders, sales orders, customizing your financial statements and forms. Therefore, I would still rate this as a solid product--great, for the business owner just starting out. The other versions give you an opportunity to upgrade when you are ready.