Quicken vs QuickBooks: Which is Better? Know the Differences, Features, Pricing & More
The debate over Quicken vs. QuickBooks for small businesses will continue. Both software tools are suitable for managing finances. Check out the comparison list
When it comes to Quicken vs. QuickBooks, both are financial software that help improve business accounting and financial workflows. While Quicken may be less popular, QuickBooks accounting software is one of the most widely used software applications in the United States and around the world. Quicken vs. QuickBooks for small businesses is an excellent tool for managing finances and boosting business growth.
There are many differences between Quicken vs. QuickBooks, which we will cover later. However, QuickBooks is a full-fledged accounting software, while Quicken is a basic financial management software for small businesses and individuals. According to reports, over 64% of small businesses prefer accounting and financial software. Moreover, did you know that over 94$ % of CPAs have moved to cloud accounting services. Likewise, QuickBooks hosting on your devices can take your workflow to the cloud and increase productivity.
In this blog, we will compare Quicken vs. QuickBooks for small businesses, exploring their key features and pricing models.
What is Quicken Software?
Quicken financial software is designed for small businesses and individual financial management. Intuit Inc. owns Quicken. It aims to simplify personal finances by making it easier to manage multiple accounts simultaneously. Key features of Quicken include a savings tracker, budget suggestions, reviewing financial information, monitoring account balances, and investing from a single platform. You can also check personal loans, debts, assets, credit card accounts, and more.
What is QuickBooks Software?
Intuit Inc. also makes QuickBooks. It is one of the top-performing accounting software programs worldwide, particularly in the United States. The United States has the highest number of QuickBooks users. QuickBooks offers desktop, online web, and mobile application versions to use the software. Key features of QuickBooks are payroll services, tracking income and expenses, managing receipts, invoices, cash flows, and taxation mandates.
QuickBooks software is a comprehensive accounting solution with advanced features, designed specifically for small businesses, CPAs, and tax professionals. With cloud hosting services, you can access your QuickBooks application from anywhere, anytime.
Table Comparing Quicken vs. QuickBooks
|
Quicken |
QuickBooks |
|
|
Ideal For |
Individual financial needs and those of small businesses, like sole proprietors |
Small and medium businesses that need robust accounting and financial software |
|
Pricing Plans |
Simplifi plan starts at a nominal $5.99 per month
Classic plans are between $5.99 - $7.99 per month
Business & Personal plan starts at $7.99 per month
Classic Business & Personal plan starts at $10.99 per month
(Prices will vary according to Quicken versions as listed above) |
Simple plans start at $35 per month.
Essential plan starts at $65 per month
Plus plan starts at $99 per month
The Advanced plan starts at $235 per month
(Prices will vary according to QuickBooks software versions as listed above) |
|
Features |
→ Cash flow tracking support → Budgeting support → Can support business data migration → TurboTax can be used for tax work → basic bookkeeping features → You can connect PayPal for payments |
→ A full-fledged accounting software → Robust inventory management features → Ability to generate many reports → Bank reconciliation features → Sales & purchase order management → Payroll services → Time tracking → Invoicing features → Seamless payment integration → Hundreds of third-party integrations available |
|
Multi-User Support |
Does not support multiple users |
Supports up to 40 users. (Based on QuickBooks software version usage) |
|
Available on |
Windows & MAC |
Windows & MAC |
|
Free Trail |
Not Available |
Up to 30 days |
|
Disadvantages |
→ No inventory management option → Basic features only → Only the annual billing option is available → No payroll services available |
→ Can become expensive as you take advanced QB versions → Not all features are available for each model; you must upgrade to get added features. |
|
Mobile Application Support |
Yes |
Yes |
|
Cloud Hosting Support |
Yes, Quicken cloud hosting is available |
Yes, QuickBooks hosting is available |
|
Customer Care Support |
Through telephone, live chat, and community forums |
Through telephone, live chat, video tutorials, email, and community forums |
Also Read : Cloud Books & Bookkeeping Expert London: Revolutionising Business Finances in the Capital
Bottom Line
When comparing Quicken vs QuickBooks for small businesses, it ultimately comes down to the type of business and its specific requirements. For example, freelancers and sole proprietors can choose Quicken for basic financial workflows, while those with full business operations can opt for the more robust QuickBooks accounting and financial software. Among the QuickBooks versions, QuickBooks Enterprise stands out for growing businesses that need advanced inventory, reporting, and user access controls. Moreover, Quicken is cheaper than QuickBooks. Both support mobile apps and cloud hosting and are available for both Windows and Mac users. The Quicken vs. QuickBooks debate will continue, but what your business needs and goals are for using the application will matter. Do remember that both Quicken and QuickBooks are designed and developed by Intuit Inc. However, CPAs and tax professionals tend to prefer QuickBooks—especially QuickBooks Enterprise—over Quicken. Get your Quicken or QuickBooks hosting and access your application from anywhere, anytime.
FAQs (Frequently Asked Questions)
Can you run a small business on Quicken?
Yes, you can run a small business using Quicken software. However, you must use either Quicken Personal or Quicken Business versions.
Quicken vs QuickBooks: Which is best?
Quicken is well-suited for personal finance management, particularly for freelancers and sole proprietors. QuickBooks is designed and suited to small business setups due to enhanced accounting, payroll, invoicing, and inventory features.
What is the difference between Quicken vs QuickBooks?
Here is a table of differences between Quicken vs QuickBooks:
|
Quicken |
QuickBooks |
|
→ Best for personal finance → Starts at $2.99 per month → One user allowed → No payroll services → No inventory management option → Bookkeeping, budgeting, and annual billing options are supported |
→ Best for small business finances → Starts at $35 per month → Up to 40 users allowed → Supports payroll services → You can manage inventory → You get all the features like budgeting, invoicing, taxation, bookkeeping, report generation, and more. |
What are the advantages of Quicken?
The advantages of Quicken are:
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Economic pricing plan for personal finance management.
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Good budgeting tools to manage finances.
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Monitoring and tracking financial information and reports.
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Good option for bill payments and management.
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Easy and simple to use, smooth navigation with an intuitive user interface.
