Accounting software have surely become an inseparable part of each and every type of business. With the help of robust, feature-rich and easy to use accounting software, businesses from different industries are able to manage their books easily and quickly as well.
But when it comes to choosing the best accounting software then it becomes quite a tricky decision for most of the business owners. But the two best options available in the market for managing books of SMEs are QuickBooks and Quicken.
Both QuickBooks and Quicken are quite popular among SMEs as the tools and features of both these accounting software have been specifically designed to deal with the accounts of SMEs. On one side, the very popular accounting software from Intuit in the form of QuickBooks offers multiple advantages to accountants along with simple UI while on the other side, the user-friendliness of Quickens along with its easy to understand accounting tools make it a very good choice for startups and medium-sized businesses.
Choosing the best between these two accounting software is quite difficult. This is why we have come up with this blog post in which we will go through the differences between QuickBooks and Quicken so that you can choose the best one without any hassle.
When it comes to editions then both Quicken and QuickBooks are on the same platform but what differentiates these two popular accounting software is the type of edition provided by them.
On one side, QuickBooks comes in four different editions. These four basic editions of QuickBooks are Pro, Premier, Enterprise, and Accountant. All these four editions of QuickBooks are different in terms of the feature provided and also in the terms of numbers of users allowed. If a business is having more than 20 employees then it is recommended to use the Enterprise version as it comes with advanced inventory function as well.
On the other side, Quicken accounting software also has four versions but these versions of Quicken are completely different from that of the QuickBooks. The four versions of Quicken available in the market are Deluxe, Premier, Home & Business, and Rental Property Manager. The deluxe and premier version of Quicken offers features that are useful for personal accounting while the home & business along with Rental Property Manager is good for managing books of small and medium-sized businesses.
When it comes to accounting feature then there is no denial in the fact that QuickBooks is far ahead of Quicken. But that doesn’t mean that Quicken if a bad accounting software for SMEs. You should know that the number of accounting tools available in Quicken are enough for small and medium-sized businesses. But in this section, we are going to look at which accounting features are available and not available in both the accounting software.
Let’s start with Payroll. Well, payroll is very necessary to keep track of employees and manage their pay slips. You should know that Quicken doesn’t have any payroll feature while QuickBooks offers your robust payroll feature through Tsheets that is now owned by Intuit itself. When it comes to taxes and invoicing and taxes, even then QuickBooks is ahead of Quicken. There is no way to manage your taxes in Quicken and but you can surely manage your invoices from within the software but that is not the case with QuickBooks.
QuickBooks comes with a proper tax management feature that allows you to manage and file your taxes without any hassle. In addition to this, the invoicing feature of QB is also quite good as you get thousands of templates to choose from and you can even add your logo in the invoices.
So these were the basic accounting feature difference between both these accounting software. If you have limited accounting needs then you can surely go for Quicken but if you have very broad and diverse accounting need then going with QB will be a better idea.
QB basically comes in two forms; the first form is the cloud browser app and an Enterprise only desktop app. It doesn’t matter which version of QB you are using, you will have to connect your accounts and investments to the secure server and all your sensitive financial information will port in over the encrypted connection. You should know that you can also connect several outside apps for payroll, payments, timekeeping, etc. If you will host QB on the cloud then you will be able to access the software from anywhere and at any time. In addition to this, you will also get high security, better uptime and better flexibility with cloud-hosted QB.
Quicken is available in the desktop app. You can surely access a browser and mobile version of the tools. But you should know that both these versions are less feature-rich than the desktop version. The accounts sync through all the three versions of the Quicken app but you will surely find the limited version of some of the tools. In addition to this, the Quicken Home and Business are currently available only on Windows and you will never be able to use it on Mac. You can surely host Quicken on the cloud as well and unlock the power of the cloud while harnessing the advantages of the accounting features of Quicken.
So, as you can see, both the accounting software have some advantages and disadvantages and this is why choosing the best one will totally depend on what are you expecting from your accounting software.