In a large mixing bowl, cream together 1 cup of softened unsalted butter and 1 cup of granulated sugar until light and fluffy, about 3-5 minutes.

Beat in 2 large eggs one at a time, followed by 1 teaspoon of vanilla and 1 teaspoon of almond extract until combined.

In a separate bowl, whisk together 3 cups of all-purpose flour, 1 tablespoon of baking powder, and 0.5 teaspoon of salt.

Gradually add the dry ingredients to the wet mixture, stirring gently until just combined.

Cover the dough with plastic wrap and refrigerate for at least 30 minutes.

Preheat the oven to 350°F (175°C). Shape dough portions, place 1 teaspoon of peach preserves in the center, and fold the dough over to encase the filling.

Bake for 12-15 minutes until bottoms are lightly golden; cookies should remain soft.

Allow to cool for a few minutes, then roll in granulated sugar. Let cool completely on a wire rack before serving.