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
$2.99 per month (billed annually)
for the first year
$2.99 per month (billed annually)
for the first year
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 $2.99 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 $5.99 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 $5.99 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.
- Quicken Business & Personal: Available for $6.59 for the first year (billed annually), the Quicken Business & Personal plan allows you to manage business, rental and personal finances, optimize for taxes, keep documents organized and create reports, such as profit and loss (P&L), cash flow, tax schedules and much more.
Pros & Cons
- 30-day money-back guarantee
- It has attractive pricing
- Ideal for landlords
- Doesn’t have a free trial
- Can’t pay monthly
QuickBooks
Starting Price
$30 per month
(all plans are 50 percent off for the first three months)
$30 per month
(all plans are 50 percent off for the first three months)
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 (50 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 50 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
FAQs
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.
Why use QuickBooks instead of Quicken? ›
Quicken offers basic financial tracking, but QuickBooks goes beyond that to include banking, lending, inventory, payroll, and other financial tools and features. Both include invoicing, but QuickBooks allows quotes, invoicing, payments, and project-level tracking. You can do a lot more with QuickBooks.
Can you run a small business on Quicken? ›
Quicken works for self-employed freelancers, rental property owners, and people who want to manage their personal finances as well as their business on a single dashboard.
Why don t large companies use QuickBooks? ›
QuickBooks was developed to automate a limited set of major accounting functions. Most companies don't integrate QuickBooks with other business software and manage integrations manually instead. While this works for small businesses with small data volumes, this is not feasible when the business grows.
Should you use QuickBooks for small business? ›
QuickBooks is one of the best accounting software to choose if you're looking for an easy way to manage payments, invoicing and expense tracking for your business. The accounting software is accessible on any device, but you need to set it up properly to enjoy its benefits.
When should you stop using QuickBooks? ›
Key Signs That QuickBooks is Failing
- It Becomes Harder to Track Real-Time Activity. As soon as a company expands or takes on new locations, the information that has to be exchanged quickly takes longer than it should. ...
- Increased Use of Manual Processes. ...
- An Increase in Lost Sales. ...
- QuickBooks Used Less for Accounting Work.
Quicken and QuickBooks are different software programs with completely different features and operations. Quicken is more focused on maintaining personal finances for the user. On the other hand, QuickBooks aims to support the complex accounting needs of SMBs and Enterprises.
Can you use Quicken for bookkeeping? ›
Quicken, a must-have tool for personal financial management, can do all modern-day bookkeeping tasks efficiently.
Can I still buy Quicken without a subscription? ›
In addition to online banking, you'll automatically receive new Quicken features, versions, and services as part of your Quicken subscription, so you'll always have the newest product. To provide you with these new features, a subscription is required. All future Quicken products will also be subscription products.
Why do accountants not like QuickBooks? ›
QuickBooks automation is limited
Although QuickBooks does have some automation features, they are often limited and may not work the way you expect them to. If you're looking for an accounting software that will automate most of your bookkeeping tasks, QuickBooks is probably not the right fit for your business.
QuickBooks is designed as a generic accounting and bookkeeping platform for a wide variety of businesses, and it fulfills its purpose. However, the software lacks the functionality and features that businesses need to increase their efficiency, profitability, and scalability.
Is QuickBooks becoming obsolete? ›
QuickBooks Desktop Software Being Phased Out 2024. Special offers and savings on QuickBooks products for Host Merchant Services readers! Save 30% on QuickBooks. Intuit had announced its decision to discontinue its older versions of QuickBooks Desktop after May 31, 2021.
How much is QuickBooks per month for small business? ›
QuickBooks Online pricing
| Plan name | Price |
|---|
| Simple Start | $30/month. |
| Essentials | $60/month. |
| Plus | $90/month. |
| Advanced | $200/month. |
Jan 2, 2024
QuickBooks is a great asset for business owners but, if you don't have a bookkeeper to help you, then you probably aren't unlocking QuickBooks's full potential. Plus, bookkeepers provide benefits that computer programs can't, such as offering real-world advice on how to better manage your business.
Do I need an accountant if I use QuickBooks? ›
You need an accountant to confirm your records
It automatically books the double-entry, meaning debit and credit. For example, when you write a check to pay the utility bill and enter utilities expense, QuickBooks makes the entry hitting both the checking account and the utility expense account.
What is the benefit of using QuickBooks? ›
If you plan to start a company or you already have one, QuickBooks is a must-have software for any business. It really simplifies and streamlines the accounting, tracking, and reporting and for the most part, guarantees that the process of managing your company finances will be much easier.
What is the reason for using QuickBooks? ›
QuickBooks allows you to keep track of financial functions like income and expenses, employee expenses and inventory in real time and fulfill tax obligations hassle-free. When you are free of financial worries, you can focus on driving business growth and revenue.
How much does QuickBooks cost for personal use? ›
QuickBooks Online pricing
| Plan name | Price |
|---|
| Simple Start | $30/month. |
| Essentials | $60/month. |
| Plus | $90/month. |
| Advanced | $200/month. |
Jan 2, 2024
Great solution for small business accounting
A great product that includes all the features for small business accounting, expense tracking, reporting, invoicing and payments, easy to use and affordable. Also integrates with Dext for automation.
