QuickBooks vs. Quicken – What’s the Difference

QuickBooks vs. Quicken – What’s the Difference

QuickBooks is designed to help businesses handle their finances simpler, easier way. It also has great invoicing, credit card processing, cash flow analysis, and inventory management. Quicken also has a wide range of features that allow you to plan and manage your financial life. It will help you keep track of your income, expenses, and investments. QuickBooks is designed for business use, while Quicken focuses more on personal use.

What is QuickBooks?

QuickBooks vs. Quicken – What’s the Difference

QuickBooks is an accounting application package created by Intuit Inc. that accountants and small businesses have used since the 1980s. Its primary purpose is to assist its users with accounting tasks such as invoicing clients, recording billable hours, managing employee timesheets, tracking expenses, and generating tax reports.

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QuickBooks pricing starts at $15/monthly and can range as high as $125/month for some of its more advanced features, such as producing reports in real-time and managing a company’s assets.

Pros

  • Accessed through the internet or installed on a computer.
  • Compatible devices such as scanners if they are present.
  • Users can manage services, products, and inventory.
  • Users can generate reports on a daily, monthly, or yearly basis.
  • Highly customizable to match each user’s needs and preferences.

Cons

  • Poor customer service.
  • Requires extensive training for novice

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What is Quicken?

QuickBooks vs. Quicken – What’s the Difference

Quicken is a personal finance management software developed by Quicken Inc, the financial software arm of Intuit. It was first released in 1983 and quickly became a household name. Quicken offers several tools to help manage finances, including mobile apps for iOS and Android. It can also record bill payments, analyze spending patterns, create budgets, track investment portfolios and prepare financial reports.

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Quicken pricing starts at $34.99 per year for the basic version, but more advanced features can cost up to $149.99 per year or even more.

Pros

  • Allows users to pay bills and keep track of expenses.
  • Gain financial insight through detailed reports.
  • Has automatic data backup and restore features.
  • Manage all personal finances in one place with the Quicken mobile app.
  • Offers a free trial.

Cons

  • Offers little to no support for small businesses.
  • Requires extensive training for novice users.

Key Differences

QuickBooks is an accounting software released by Intuit. The company started in 1983 when Scott Cook and Tom Proulx met at Procter & Gamble in Cincinnati, Ohio. At the beginning, this company was known as “The Great Minds of Intuit” and then “Progressive Computing.” Their first product was desktop-based personal finance software which later became Quicken.

In recent years, Intuit has continued to add new features and functionalities to its flagship accounting application, QuickBooks. Its latest features include invoice clients, managing inventory, and even producing reports in real-time.

Intuit also developed Quicken, but its history dates back to 1985, when personal finance software was first released. The company later changed its name to Intuit in 1993. The current version of the software was launched in 2017, but it has gone through many updates since its release 30 years ago.

QuickBooks vs. Quicken, which is better? That rests on you, how you want to use it if you are a small business or freelancer who wants an accounting suite with lots of bells and whistles.

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Comparison between QuickBooks and Quicken

  • QuickBooks is the leading provider of books, payroll, and accounting technology for small businesses, and Quicken is the leading personal finance company that helps millions of consumers manage their money.
  • It is the leading provider of books, payroll, and accounting technology for small businesses, and Quicken is the leading personal finance company that helps millions of consumers manage their money.
  • QuickBooks provides an easy way to manage your small business finances and streamline productivity, while  Quicken helps manage personal finances.
  • It provides an easy-to-use solution to managing your small business finances and streamlining productivity. At the same time, Quicken helps manage personal finances while providing users with an easy, fast, and simple way to keep track of their finances.
  • QuickBooks makes it easy to create professional invoices, keep track of expenses, and generate reports, while Quicken does all of this and offers a free trial.
  • In short, QuickBooks and Quicken are examples of successful software in the finance management industry, but they are designed for different purposes.

Conclusion

Quicken and QuickBooks have a lot in common, but they are designed for different users. You can check out both applications before committing to one. Try the free trial versions to see which one is more suitable for your particular needs.

About Alisha John

A Nature Lover and Freelance Writer! I write about daily practices for optimizing both happiness and health.

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