Is that directed at me? If so, I wouldn't recommend Peachtree, or any other out of the box software, for what you want to do. Like I said, they are all loaded with features you probably don't need or want, like payroll tax management and such.
What I read from your question was that you wanted a way to track employee hours and, if that's all you want, a simple spreadsheet would be all you'd need.
In the time it would take you to learn one of those accounting programs, you can learn to do what you want in something like Excel. The beauty part of Excel is, it'll grow as you want it to. You can change it and morph it into pretty much whatever you want it to be. You can't do that with a generic program.
An added benefit to learning something like Excel is, once you know how it works and what it'll do, the possibilities are almost limitless. You can use it for so many other facets of your business and personal life. The accounting programs only do accounting. There are macros you can make in Excel that make the program literally sing.
Please don't be lulled into the idea that you'll learn to use Excel overnight. It's a complicated program but it's fairly easy to learn the basics and you can build quickly on those. Like anything worthwhile, it takes patience and work.
As far as the generic accounting programs go, most any of the basic programs with payroll functions would probably kinda do what you want... just not very well and likely not exactly the way you'd like.