Quickbooks Vs Quicken
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Which one is the best? Quickbooks or Quickens? Everyone who has been using this financial accounting software must have gone through this question once for sure. There can be numerous reasons for which one is better but the prime distinguishes factor between Quickbooks and Quickens software arise from one thing which is their purposes. Both of these software serves two different financial operations.
Quickens is primarily designed to manage personal finances along with some limited business financial operations while Quickbooks is specifically designed for business purposes along with all the accounting requirements in the business.
Apart from this, there can be found various differences between this software. So let’s move on to the comparison between Quickbooks and Quickens.
Fundamentals – Quickens VS Quickbooks:
- Quickens Home and Business Features: The Quickens Home and Business Fundamentals are fully designed to manage all your personal expenses with spending tracking, budget goals, and loan management, etc. it has everything that you will need in personal accounting software. Along with better management, you will get functionality to categorize your expenses, Profit/Loss projections, Cash flow reports which will eventually help you to reduce the taxations.
- Quickbooks Online Fundamentals: QB Online is specifically designed and introduced for business purposes so unlikely Quickens With few business features, at QBO you will get all the financial and business accounting features like track income, track expenses, print checks, send invoices, etc. the Quickbooks Online is available in three versions that are start, essential and plus. With each of them, you will get more and more features.
Comparison: Here Quicken is more preferable if you wish to use a single application to manage both personal and business accountings as Quickbooks is only designed to perform a primary function while Quickens offers to track personal and business finances as well.
- Quicken is more affordable then Quickbooks as you will be charged $99.99 annually for Quickens Home and Business software. This can be one of the main reasons why we are discussing here Quicken VS Quickbooks.
- While the Cheapest Quickbooks Online simple start will cost you around $20 a month or around $240 a year. Even after considering the 50% discount, it will cost around $210 per year. However, the features and the functionalities you will get with Quickbooks Online will worth the price. You will have multiple advantages over quickens software which will worth the extra you will pay every year.
Comparison: Here both of the software have their own features and functionalities which are indulged in the price hence its a tie.
- If you have a small business and you are thinking about using Quickens then it might be not the right choice as its a personal financing tool and it doesn’t have the required features to manage a business. While if you have a rental business then you can use the Quickens software to manage terms like rental rates, lease terms, track of tenants, etc.
- With Quickbooks Online you will get some additional features then Quickens which will offer you to automatically add transaction if they will meet certain criteria. Hence with Quickbooks online, you will be able to operate bank feed transactions management too.
Comparison: With all the interesting and intuitive features that offers to make payments, send invoices, create receipts Quickbooks Online is more preferable here
- With the Quicken software, the internet connectivity for the device in which is installed in necessary and due to network connectivity issue there is always sync error issue. Hence user can only access the application from the computer or mobile it has been installed.
- The navigation and usability of Quickbooks are more convenient then quickens as it is specifically designed for business. If you need accounting software for your business purpose then Quickbooks online offers you premium accounting features without any personal interruptions.
Comparison: Based on the accessibility factor, Quickbooks is a more preferable choice however people also choose Quickens who need fewer accessibility features for security reasons.
Hence based on this we can say there is no way to declare whether accounting software is better as both serve two different purposes and it will vary based on the preference and usage of the user. Some might find Quickens better while Quickbooks can be a better option for some. So I hope you have a clear vision of both the software and about which is a better choice for you.