QuickBooks versus Quicken: Understand the Difference?
Two of the most prominently used financial management tools are Quicken and QuickBooks. Both have their unique set of features and designs for a user to have a quality time and ease in managing their accounts. Both of the tools are owned by Intuit, but there are quite a few differences that one should know before using either of them.
Points to Remember
- QuickBooks is inclined more towards being a fully functional business and management suite with the much-needed features and tools for small businesses. It is a little costlier, however, the help driven from it is commendable.
- Quicken on the other hand is good for family and individuals for balancing their account, making investment decisions, budgeting, and for small businesses too. It is less costly compared to QuickBooks.
Let go into details:
It was released in 1998, way too late than Quicken, and therefore has a more advanced version and features. A fully feature-loaded tool for accounting, payroll, inventory management, invoice, bank account tracking as well as managing budget, expenses, payment, account receivable, and payable.
With that, it can also be plugged into different software as an added advantage. With QuickBooks, a company can do just anything and everything. being high priced is because of complete accounting software that also helps you in preparing reports.
It was released in 1983, solely for personal finance management. This software offers individuals and families to track their accounts, transaction, personal budgeting, and investments, as well as loan. All personal financial management will be taken into consideration through this tool.
It helps your computer turn into a financial command instructing you to make useful business decisions in no time. You can be updated with information on bank, investments, credits, and tax details as well.
Quicken Starter, Quicken Deluxe, Quicken home and business. Quicken Rental Property Manager as well as Premier
QuickBooks Premier, QuickBooks Accountant, QuickBooks Enterprise management and Pro version
Personal Financial Management Solution
For small and Medium sized business management, handling accounts, operation, payroll and a lot more.
Invoice and Tax
It focuses on the finances of individuals
An accounting processes of small businesses
Quicken focuses on providing local software stored in Individual computer
Provides an online version of their software that many businesses can use with ease
QuickBooks Vs Quicken Features
Quicken home and business is a local owner and hosted software, meaning you need the software to be downloaded on your computer and installed well on the machine. While you download the newest version of this software, you will also have some help with the web and mobile access option, you need to opt into the features that will allow you to sync the data across the location. With that, it is important to understand that Quicken is only compatible with Windows operating systems.
When talking about QuickBooks on the other hand, it is an online as well as a web-based software solution, which allows you to use the account from anywhere only if you have a good decent Internet connection. QuickBooks allows users to choose from 4 different subscription plans and each of them has a different number of features, tools to use based on the type of business you deal in. The QuickBooks Tool Hub is an accumulation of the number of set of the tools helps plays a vital role in resolving both major as well as minor QuickBooks applications related errors.
QuickBooks Vs Quicken Pricing
As you know, comparing Quicken and QuickBooks isn’t like comparing two apples but both have different purposes and uses, different features that make them two uniquely different tools. More like a comparison based on apple Vs Oranges.
With this in mind, you might be wondering what would be the pricing for the same, and which option is better for you?
As a primarily home-based desktop and business operation, there is only a normal annual subscription pricing plan to think of. Whereas, QuickBooks being a pro, advanced, and feature-loaded, the pricing is pretty costly.
WHICH IS THE BEST?
With that said, both of the software is used for vivid purposes. Therefore, if you wish to operate your home finances, quicken is a better reasonable option, unlike QuickBooks that gives you a business-centric insight that isn’t needed for your home finances. Think of QuickBooks if you owe a small and medium-sized business and choose a subscription plan that will go well with your business needs based on the features obtained in it.