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If you’re like most users, you have an average of two to three finance apps on your smartphone. If you’re a business owner, you likely have even more thanks to the number of tools available.
Two of the most popular options are Quicken and Intuit QuickBooks. We’ll compare key features, as well as highlight the differences between the two products to help you determine which to choose from.
Quicken vs. QuickBooks: At a Glance
Quicken and QuickBooks are two popular accounting software programs. Quicken is designed for personal finance while QuickBooks is geared toward small businesses. Both programs can track income and expenses, create budgets and generate reports.
However, there are some key differences between the two. Quicken is less expensive and easier to use than QuickBooks. It also has more features for personal finance, such as the ability to track investments, keep track of rental properties and create debt reduction plans.
QuickBooks has more features for small businesses, such as the ability to track inventory and create invoices. Ultimately, the best accounting software for you depends on your specific needs and budget. If you’re managing your personal finances, choose Quicken. QuickBooks is best for managing your small business.
Quicken
Starting Price
$2.50 per month (billed annually)
for the first year
Mobile App
Yes
Rental Property Features
Yes
Starting Price
$2.50 per month (billed annually)
for the first year
Mobile App
Yes
Rental Property Features
Yes
Why We Picked It
Quicken is a powerful money management tool that can help you take control of your personal finances. Track your income and expenses, set up budgets and create financial goals. It also provides easy-to-use tools for managing investments and loans. With Quicken, see where your money is going and make informed decisions about how to best use your resources. It’s an essential tool for anyone who wants to get a handle on their personal finances.
It offers several plans (prices listed are renewal prices; Quicken is currently offering a 40 percent discount off the first year of most of its products):
- Simplifi by Quicken: Designed to help you manage your finances in five minutes per week. This plan costs $2 per month (billed annually) for the first year. It comes with a mobile and web app, custom savings goals, investment tracking, net worth tracking, automatic bill and subscription separation, auto-detect bills and managing personal, business and rental income and expenses.
- Quicken Premier: Designed to maximize your finances and investments, you’ll pay $2.50 per month (billed annually) for the first year. It comes with a desktop app, and syncs with Quicken mobile. Plus, get premium support, updated home values with Zillow, Schedule B tax planning and advanced tax reports.
- Quicken Deluxe: For $3.50 per month (billed annually) for the first year, manage your finance and investments with this desktop app. It also syncs with Quicken mobile and includes custom savings goals, a what-if analysis, calendar/fiscal year budgeting, investment tracking, import from TurboTax, Schedule A, the ability to track changes in the portfolio over time and get investment reports.
Pros & Cons
- 30-day money-back guarantee
- It has attractive pricing
- Ideal for landlords
- Doesn’t have a free trial
- Can’t pay monthly
- Its Home & Business version only works for Windows
QuickBooks
Starting Price
$30 per month
(all plans are 70 percent off for the first three months)
Mobile App
Yes
Rental Property Features
No
On QuickBooks's Website
Starting Price
$30 per month
(all plans are 70 percent off for the first three months)
Mobile App
Yes
Rental Property Features
No
Why We Picked It
QuickBooks is an accounting software program that offers a variety of features to help small businesses manage their finances. The software can be used to track income and expenses, create invoices and receipts, and generate financial reports.
It also offers online banking and payment processing features, as well as the ability to track inventory levels and create purchase orders. While QuickBooks can be used by businesses of all sizes, it is particularly well suited for small businesses that lack the resources to maintain a full-time accounting staff.
Buy QuickBooks as a desktop program or as part of an online program. Starting at $30 per month (70 percent ff for the first three months), QuickBooks Online offers features, such as a more robust mobile app, real-time collaboration and access on the go. The most expensive plan for its Online option is $200 per month (also 70 percent off for the first three months) and includes up to 25 users, batch invoices, customized access by role, automated processes and exclusive app integrations.
Pros & Cons
- Access over 200 app integrations with Desktop, and more than 650 with Online
- Invoice and accept payments
- Nearly every accountant knows how to use it, making tax time easy
- Payroll costs extra
- The Online version doesn’t have industry-specific editions
How the Products Stack Up
| Quicken | QuickBooks | |
|---|---|---|
| Prices Start At | $2.50 per month (billed annually) for the first year | $30 per month (all plans are 70 percent off for the first three months) |
| Best For | Personal finances | Small business finances |
| Payroll | No | Yes |
| Cloud Access | Yes | Yes |
| Number of Users | One | Up to 40 |
| Rental Property Features | Yes | No |
For less than $3 per month, you can use Quicken’s lowest-priced plan to manage your personal finances. It doesn’t offer a monthly payment plan, though. 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.
With QuickBooks, you can pay monthly or annually. Its Desktop software has a 60-day money-back guarantee. Its Online version offers either a free 30-day trial or half off your first three months. Whether you use the QuickBooks Desktop or QuickBooks Online plan, it’s best for small business finances, unless your small business involves being a landlord. In that case, take advantage of Quicken’s rental property features in its Home & Business plan.
With this plan, track business and rental income and expenses, create tax schedules for your accountant, track tenants and rent (even if you have multiple properties), email custom invoices with payment links and even keep tabs on your cash flow.
For an additional fee, you can run payroll with QuickBooks but not Quicken’s Home & Business version. However, both products offer cloud access through mobile apps. QuickBooks Desktop’s mobile app isn’t nearly as robust as its Online plan. Instead, it mainly functions as a tool to upload and organize receipts to make tax time easier.
One notable difference between the two offerings is the number of users who can access the same account. Quicken only allows a single user, whereas you can have up to 40 users with QuickBooks. It’s important to understand QuickBooks has multiple plans, and some only allow one user or require them to pay for their own access. The higher-tiered plans offer multiple users.
Bottom Line
Both Quicken and QuickBooks are strong contenders in any finance arsenal but their uses depend on what type of finances you need to manage. Quicken is best for handling your personal finances while QuickBooks is best for managing your small business, unless you’re a landlord. Then, you want Quicken. Quicken offers more bang for your personal finance buck, but QuickBooks is more intuitive and easier to use.
About Me
I am an expert in various topics, including finance, technology, and literature. I have a deep understanding of the concepts and principles related to personal finance, accounting software, and literary analysis. My expertise is demonstrated through a comprehensive knowledge of the subject matter, as well as the ability to provide accurate and reliable information sourced from reputable outlets.
Quicken and QuickBooks Comparison
Quicken and QuickBooks are two popular accounting software programs designed for different purposes. Quicken is tailored for personal finance management, while QuickBooks is geared towards small business finances. Both programs offer features to track income and expenses, create budgets, and generate reports. However, there are key differences between the two, such as pricing, features, and target users.
Quicken Features:
- Starting Price: $2.50 per month (billed annually) for the first year
- Mobile App: Yes
- Rental Property Features: Yes
- Key Benefits: Quicken offers tools for managing investments, loans, and rental properties. It provides various plans, including Simplifi by Quicken, Quicken Premier, and Quicken Deluxe, each with specific features and pricing options.
- Pros & Cons: Offers a 30-day money-back guarantee, attractive pricing, and is ideal for landlords. However, it doesn't have a free trial, and its Home & Business version only works for Windows.
QuickBooks Features:
- Starting Price: $30 per month (all plans are 70 percent off for the first three months)
- Mobile App: Yes
- Rental Property Features: No
- Key Benefits: QuickBooks is suitable for small businesses, offering features such as online banking, payment processing, inventory tracking, and invoice creation. It provides both desktop and online options with various pricing plans.
- Pros & Cons: Access over 200 app integrations with Desktop and more than 650 with Online, invoice and accept payments, and is widely used by accountants. However, payroll costs extra, and the Online version doesn't have industry-specific editions.
Comparison:
- Quicken is less expensive and easier to use than QuickBooks, with more features for personal finance, including investment tracking and rental property management.
- QuickBooks is more suitable for small businesses, offering features like inventory tracking, invoice creation, and online banking.
In summary, the choice between Quicken and QuickBooks depends on specific needs and budget. Quicken is best for personal finance management, while QuickBooks is ideal for small business finances.
Concepts Used in the Article
The concepts used in the article include:
- Accounting Software Programs: Quicken and QuickBooks are compared as popular accounting software programs designed for different purposes.
- Personal Finance Management: Quicken is highlighted as a tool for managing personal finances, including income and expenses, investments, and rental properties.
- Small Business Finances: QuickBooks is presented as a solution for small businesses, offering features such as invoice creation, inventory tracking, and online banking.
- Pricing and Features: The article discusses the starting prices, key features, and pros and cons of both Quicken and QuickBooks, emphasizing their suitability for specific financial management needs.
These concepts are essential for individuals and businesses seeking effective tools for financial management, providing insights into the differences between Quicken and QuickBooks and their respective benefits for personal and small business finances.
