Quicken vs QuickBooks: Which Is Best for Your Small Business?

Both programs were part of Intuit (INTU), but Quicken was sold to H.I.G. Capital in 2016. Both QuickBooks and Quicken have unique feature sets designed for different uses. Quicken’s tax tools also allow for sales tax tracking within the software. Users can create reports covering Schedules A to E, as well as Tax Summaries, Capital Gains, and custom reports for any tax schedule.

How Quicken saves you money

You also get invoice and expense batching, role access customization, and premium app access. You also can automate workflows for all employees and restore data at any time to avoid a loss of information. The Self-Employed plan also contains tiers for those who want more assistance when tax season rolls around. Most of the apps are free to download and sync right with your QuickBooks dashboard. Integrations allow you to manage your business from anywhere, further organize your finances, and create an optimized dashboard relevant to your needs. Quicken gives you access to reconcile bank statements and check your recorded transactions in one place.

• You also gain access to more debt syncing to add personal loans to your account for tracking.
• Other features include mileage tracking, cash flow management, and receipt capture and organization.
• The robust budgeting tools allow you to track expenses by category and subcategory closely.

Quicken vs. QuickBooks Online: Feature comparison

In some cases, QuickBooks may offer more than necessary, but in most, QuickBooks is better for business financial management than Quicken is. These features allow you to turn your computer into your financial command center with updated information from each bank, investment, and credit account downloaded right into Quicken. You can also track investments using cost basis to best understand the tax implications of buying, selling, and how you are building your portfolio. QuickBooks has a library of more than 650 integrations, letting users easily tie in their data from major business platforms like Microsoft’s 365 and Google’s G Suite. Other third-party services cover tasks in a range of categories, including marketing, file storage, CRM, ecommerce, and payments. With QuickBooks, you’ll be able to organically track tax details on all projects and expenses.

Other accounting software options

QuickBooks is also more customizable overall, and allows for greater scalability due to the depth of features in its more advanced plans. QuickBooks offers detailed, flexible reporting abilities, with a long list of preset templates that can be modified to fit each users’ specific needs. All of this is available from the Reports Center on the navigation menu. This nets you all the Deluxe features, plus free online bill payment, priority customer support, and a host of tools to further streamline tax planning.

She started her career writing and editing content about home services before transitioning to home improvement products. She has spent the last year and a half working at a software company, managing content about CRM, project management and other business topics. Both Quicken and QuickBooks Online offer comprehensive overviews of your financial situation. Quicken specializes in welding personal and business finances under one roof, which is ideal for sole proprietors and freelancers. Its beautiful, simple interface is specially designed for individuals without a background in accounting. As a result, you can quickly get started with the title without worrying about jargon-filled complexities.

QuickBooks vs Quicken: Core Features

It offers all the features of Starter, plus customized budgets and both tracking and savings goals for debts, loans, investments, and retirement accounts. For less than $4 per month, you can use Quicken’s lowest-priced plan to manage your personal finances. While there isn’t a free trial, there’s a 30-day money-back guarantee. So, if you don’t like it, you’re not locked in for the entire year you already paid for.

The upgrade also includes access to bill management and payments right in the QuickBooks portal. Quicken allows users to directly connect their accounts into the platform to put all of their bills and income in a single location. You can use this area to track upcoming payments that are due, any past due accounts, and incoming paychecks. The payroll features are extensive, and you continue to upgrade plans with time tracking features built right in. Another significant difference between these two software options is their pricing structures.

However, it’s not a good choice for businesses with multiple employees and offers subpar features for quickly growing and midsize companies. QuickBooks offers a full-service payroll system for owners and other employees. Depending on your business, the added cost could be well worth it.

There are impressive retirement planning features in Quicken to lay out your plan and see where you are headed. Set your own retirement goals and see what you need to save on a weekly, monthly, and yearly basis to accomplish them. You can either print an invoice or send it directly to your customer right from the QuickBooks portal. One of the main benefits of QuickBooks is its user-friendly interface. Even if you have no prior accounting experience, you can easily navigate through the software and perform tasks using its intuitive dashboard.

To help determine which of these two widely used financial management tools is best for you, we conducted a comprehensive review process of both. Quicken scans its users’ transactions, noting all regularly recurring expenses for easy budgeting. You can choose whether to do this automatically or manually, and can separate expenses into categories as well. QuickBooks and Quicken both offer four plans, with the number of features increasing as the costs rises. We believe everyone should be able to make financial decisions with confidence. If you’re like most users, you have an average of two to three finance apps on your smartphone.

Its inventory features and excellent bank reconciliation make it a good pick for small businesses in merchandising and retailing. Find additional software providers in our Accounting Software Guide. QuickBooks is an accounting software program that offers a variety of features to help small businesses manage their finances. quicken vs quickbooks The software can be used to track income and expenses, create invoices and receipts, and generate financial reports. QuickBooks stands as the go-to accounting software for businesses, offering a comprehensive suite of features designed to handle everything from invoicing and payroll to inventory management.