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                                 UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                                SCHEDULE 13G

                  Under the Securities Exchange Act of 1934

                              (Amendment No.  )*


                         Checkfree Holdings Corporation
- -----------------------------------------------------------------------------
                               (Name Of Issuer)

                          Common stock, $.01 par value
- -----------------------------------------------------------------------------
                         (Title of Class of Securities)

                                  162816 10 2
- -----------------------------------------------------------------------------
                                 (CUSIP Number)

                                    12/31/98
- -----------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

        [   ] Rule 13d-1(b)
        
        [   ] Rule 13d-1(c)

        [ X ] Rule 13d-1(d)


* The remainder of this cover page shall be filled out for a reporting person's 
initial filing on this form with respect to the subject class of securities, 
and for any subsequent amendment containing information which would alter the 
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 
1934 ("Act") or otherwise subject to the liabilities of that section of the 
Act but shall be subject to all other provisions of the Act (however, see the 
Notes).





Potential persons who are to respond to the collection of information contained 
in this form are not required to respond unless the form displays a currently 
valid OMB control number.       



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CUSIP NO.  162816 10 2
         -----------------------

- -------------------------------------------------------------------------------

(1)     NAMES OF REPORTING PERSONS.
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
        Peter J. Kight   
- -------------------------------------------------------------------------------

(2)     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 

        (a) 
           -------------------------------------------------------------------

        (b)
           -------------------------------------------------------------------
- -------------------------------------------------------------------------------

(3)     SEC USE ONLY 
                     ---------------------------------------------------------
- -------------------------------------------------------------------------------

(4)     CITIZENSHIP OR PLACE OF ORGANIZATION                  United States

- -------------------------------------------------------------------------------

Number of Shares         (5)     SOLE VOTING POWER                 6,700,551
Beneficially             ------------------------------------------------------
Owned by Each            (6)     SHARED VOTING POWER                       0   
Reporting Person         ------------------------------------------------------ 
With:                    (7)     SOLE DISPOSITIVE POWER            6,700,551  
                         ------------------------------------------------------
                         (8)     SHARED DISPOSITIVE POWER                  0 
- -------------------------------------------------------------------------------

(9)     Aggregate Amount Beneficially Owned by Each Reporting Person  
                                                                   6,700,551

(10)    Check if the Aggregate Amount in Row (11) Excludes Certain 
        Shares (See Instructions)

(11)    Percent of Class Represented by Amount in Row (11)            12.02% 
- -------------------------------------------------------------------------------

(12)    Type of Reporting Person (See Instructions)                       IN
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CUSIP No.  162816 10 2


                                  SCHEDULE 13G


Item 1.

   (a)   Name of Issuer:  CheckFree Holdings Corporation

   (b)   Address of Issuer's Principal Executive Offices:
         4411 East Jones Bridge Road, Norcross, GA  30092

Item 2.

   (a)   Name of Persons Filing:  Peter J. Kight
   (b)   Address of Principal Business Office, or, if none, Residence:
         4411 East Jones Bridge Road, Norcross, GA  30092
   (c)   Citizenship:  Mr. Kight is a United States Citizen
   (d)   Title of Class of Securities:  Common Stock, $.01 par value.
   (e)   CUSIP Number:  162816 10 2

Item 3.

         Not applicable.

Item 4.  Ownership
         (a)      Amount Beneficially Owned: 6,700,551 shares
         (b)      Percent of Class:  12.02%
         (c)      Number of Shares as to which such person has:
                  (i)      Sole power to vote or to direct the vote:  6,700,551
                           shares
                  (ii)     Shared power to vote or to direct the vote: 0 shares
                  (iii)    Sole power to dispose or to direct the disposition 
                           of: 6,700,551 shares
                  (iv)     Shared power to dispose or to direct the disposition
                           of: 0 shares

Item 5.    Ownership of Five Percent or Less of a Class.

           Not applicable.

Item 6.    Ownership of More than Five Percent on Behalf of Another Person.

           Not applicable.


                                Page 3 of 4 Pages

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CUSIP No.  162816 10 2


Item 7.    Identification and Classification of the Subsidiary which Acquired 
           the Security Being Reported on by the Parent Holding Company.

           Not applicable.

Item 8.    Identification and Classification of Members of the Group.

           Not applicable.

Item 9.    Notice of Dissolution of Group.

           Not applicable.

Item 10.   Certification.

           Not applicable.

                                   SIGNATURES

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.




Dated:  February 9, 1999               /s/ Peter J. Kight
                                       ----------------------------------------
                                       Peter J. Kight







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