20+ Difference between Quicken and Quickbooks

Unlike Quicken, which is designed with individual and family budgeting in mind, QuickBooks is tailored to the needs of small company accounting.

While Quicken primarily caters to consumers by offering desktop versions of their software, QuickBooks also provides a web-based version that many companies may utilize.

It’s hard to imagine managing one’s finances without programs like QuickBooks or Quicken. While both products were originally developed by Intuit (INTU), Quicken was sold to H.I.G. Capital in 2016.

In This Article

Comparison Between Quicken And Quickbooks

Parameter	Quicken	Quickbooks
Management	When it comes to keeping track of one’s income and spending, no method is superior or inferior to another; this can be done either on one’s own or in the context of a larger project or body of work. There is no one technique that is superior or inferior to another.	Plans containing a “Plus” or “Advanced” tier provide an itemized expenditure, wage, and other cost breakdowns for each project. The costs that are typically associated with policies of this kind are typically higher.
Inclusive of	Quicken Premier, Quicken’s top personal financial program, gets upgraded to Quicken Home & Business. Quicken Home & Business lets you import and organize transactions, budget, pay bills online, monitor investments and taxes, and more. This Quicken version also lets business owners construct profit and loss predictions and cash flow reports and differentiate between personal, commercial, and rental property activities.	QuickBooks Online membership packages are customized for business owners and contain tools to help them thrive. QuickBooks Online has four tiers: Basic, Plus, and Advanced. QuickBooks Online lets you track income and expenditure across accounts, automatically classify financial transactions for taxes, and scan and store receipts regardless of membership level.
Rate	Since there is just one edition, Quicken Home & Business pricing is easy. This software costs $99.99 annually. Quicken Go and Quicken Desktop are included at one low price. Home & Business costs the highest since it has all of Quicken’s features. Quicken, an accounting application, is risk-free for 30 days.	QuickBooks Online has four options, making pricing more complicated. QuickBooks subscriptions vary by bundle. QuickBooks Simple Start has more advanced and helpful accounting features for small companies, but it costs three times as much as Quicken Home & Company.
Reviews	Popular review sites feature several five-star Quicken ratings. Users like the service’s simplicity. When purchasing accounting software, remember that any solution that simplifies accounting is worth the investment. Quicken’s inexpensive pricing and simplicity of use have garnered praise (particularly in producing reports). Quicken may be problematic, especially when linking to other apps.	Customers also love QuickBooks Online. Users applaud the software’s wide standard feature set for automating even the most arduous accounting operations. By integrating QuickBooks Online with other apps, company owners may save time and reduce errors. QuickBooks has been criticized for being too expensive for startups.
Ease of usage	Quicken contains many additional features that are meant for personal finance but are not necessary for monitoring revenue in a corporate context. These features are built for personal finance since they are more relevant to the user’s situation. These features are designed to assist people in better managing their financial situations.	QuickBooks Online, the primary function of managing a company’s financial affairs, makes it much simpler to keep track of the amount of money that is leaving and entering the company at any given time. This is because QuickBooks Online’s primary function is the management of a company’s financial affairs.

Major Difference Between Quicken And Quickbooks

What exactly is Quicken?

In the same way that QuickBooks helps small businesses, Quicken helps individuals and families. Quicken is a personal finance management program that can be used to keep tabs on your bank balances, purchases, investments, spending plans, and debt repayments.

In addition to personal details, the Home & Business version can keep tabs on investment properties and small businesses.

When you have all of your financial accounts linked to Quicken, you can use it as a one-stop shop for managing your money.

Key Difference: Quicken

Quicken’s strength is that it’s so simple to use. Banking, spending, and net worth statistics can be easily generated.
It also allows you to divide your receipts into different spending buckets, which is helpful if you have done both businesses.
Having access to this kind of information on your cash flow may greatly improve your ability to manage your finances.
The Home & Business bundle is the most relevant of Quicken’s four membership options for business owners. Many others deal with one’s own financial situation.
Bill payment is only available under the Premier and Business & Home packages; however, all plans feature bill monitoring.
Upgrade to one of the other two plans for just $9.95 a month if the idea of consolidating your monthly payments appeals to you.
In addition to useful tools for managing your home and family life, the Home & Company package offers tools that may help you manage your business and your rental properties.
Schedules A, B, C, and E may be easily handled thanks to this suite’s comprehensive tax preparation tools.

What exactly is Quickbooks?

QuickBooks can manage various financial tasks, including bookkeeping, inventory tracking, payroll, tax preparation, and filing, invoicing, payment processing, cost analysis, budgeting, and bank account monitoring and reconciliation.

Intuit QuickBooks has much more capabilities than are shown here. It also has a wide variety of software integration options.

If you own a company, you need a financial tool that can handle just about everything, and QuickBooks is that tool.

Key Difference: Quickbooks

QuickBooks is an excellent alternative that won’t break the bank if you want to go from doing your books by hand; your spreadsheets have become a multi-headed hydra.
Both a self-service and full-service option are provided, with the latter allowing companies to pay up to 50 workers in a single transaction.
If you choose the all-inclusive plan, your W-2 forms for federal, state, and local taxes will be computed and submitted for you at year’s end.
It consolidates your orders and stock into one convenient dashboard, where you can monitor their individual progress in near real-time.
With QuickBooks Commerce, you can easily expand your business by adding more sales channels, creating a B2B commerce platform, and integrating with internet marketplaces.
By utilizing QuickBooks Online, you can save your financial records in the cloud, making them available from any device at any time.
Additionally, this service may generate invoices for you. Digital payments allow your consumers to use any payment method they like.
With QuickBooks Live, you can team up with a seasoned bookkeeper for assistance with any and all of your accounting requirements.

Contrast Between Quicken And Quickbooks

Integration:

Quicken – Without ever having to leave Quicken, you can accept online credit card payments from customers utilizing the connectivity that Quicken has with PayPal, preserve important documents such as leases and contracts in Dropbox, and find out how much your house is worth using the Zillow Zestimate tool.

It offers a tool for paying bills online that is comparable to that offered by QuickBooks Online.

Quickbooks – Quicken has only a few connections available, unlike the more than 600 that QuickBooks Online provides.

Connectors are already installed for third-party services such as Intuit Merchant Services, Bill.com, and QuickBooks Online Payroll.

In addition to this, the running of an online business may be made easier by using apps such as Shopify and Square.

Features:

Quicken – Essentially, Quicken Home & Business is an upgrade from Quicken Premier, the highest tier of Quicken’s personal finance software platforms.

You can import and sort transactions, create a budget, pay bills online, track investments and taxes, and much more with Quicken Home & Business.

In addition, this Quicken version has useful features for business owners, such as the ability to distinguish between personal, business, and rental property transactions and create profit and loss projections and cash flow reports.

Quickbooks – Each QuickBooks Online subscription plan is tailored to the specific needs of business owners and includes features that help them succeed in their chosen fields.

There are four different QuickBooks Online subscription tiers: Simple Start, Essentials, Plus, and Advanced.

Track business income and expenses across accounts, automatically categorize financial transactions for tax purposes, and scan and store receipts are all features available in QuickBooks Online, regardless of your subscription plan.

Pricing:

Quicken – Pricing Quicken Home & Business is straightforward because there is just one version. The price of this program is $99.99 per year.

Both Quicken Go and Quicken Desktop are bundled together and offered at a discounted price.

Home & Business is the most expensive option since it contains all of Quicken’s capabilities. The accounting software known as Quicken offers a risk-free trial period of thirty days.

Quickbooks – Because there are four different alternatives, the cost for QuickBooks Online is more confusing. Different bundles provide different prices for QuickBooks subscriptions.

Although it is three times more expensive than Quicken Home & Company, QuickBooks Simple Start is a better choice for small companies since it contains more advanced and helpful accounting capabilities.

Customer rating:

Quicken – Numerous users have given Quicken five-star reviews on popular review websites. Several users have praised the service’s simplicity.

Accounting is difficult. Therefore, any service that may simplify it is worth the cost, so keep this in mind while choosing your accounting software.

Quicken has received much positive feedback because of its low price and ease of use (particularly in producing reports).

Users have noted in evaluations that Quicken may sometimes be buggy, particularly when linking it to other programs.

Quickbooks – QuickBooks Online likewise receives rave reviews from its clientele. In particular, users praise the software’s extensive standard feature set for its ability to streamline and automate even the most laborious accounting processes.

Additionally, QuickBooks Online may be integrated with several other programs, saving time and reducing the likelihood of error for company owners.

Customers have complained that QuickBooks’s price tag makes it out of reach for some, particularly startups.

Alternative:

Quicken – Over the last decade, Quicken has experienced a proliferation of rivals since personal finance is a thriving market for SaaS.

An effective replacement for Quicken would allow users to centralize their financial information, allowing them to monitor their spending better and save where necessary.

You Need a Budget (YNAB), Personal Capital, Mint, and Tiller are some of the most well-liked alternatives to Quicken.

Quickbooks – The development of accounting software and other forms of financial software focusing on the small company market has also increased in recent years.

Alternatives that measure up to the hype will let you handle your company’s finances, from invoicing and payments to budgeting and payroll.

Xero, FreshBooks, Sage, Zoho, and Wave are some of the most well-liked alternatives to QuickBooks.

Frequently Asked Questions (FAQs)

Q1. What exactly is the function of the Quicken application?

To get a complete picture of your financial situation, you need to look at all of your accounts together.

In addition to that, you will be able to print tax schedules, send personalized invoices, save receipts, keep track of costs, and more.

Discover where your money is going, and then create individualized budgets that will assist you in keeping tabs on it.

Q2. Is it worthwhile to shell out money for Quicken?

Quicken Deluxe has helpful features, including outstanding reporting, transaction monitoring, short- and long-term planning, and exceptional assistance, but you must pay an annual subscription to use it.

Considering the synced companion website and the excellent mobile applications, it is easy to understand why the PCMag Editors’ Choice award goes to Quicken Deluxe among premium personal financial software.

Q3. Which of these two programs, Quicken or QuickBooks, is easier to work with?

An alternative to QuickBooks that is both more user-friendly and available at a more affordable price is called Quicken.

It also offers extra capabilities for managing personal finances, such as monitoring investments, preserving rental property records, and devising plans for paying off debt. These are only some of the features that are included.

Q4. What types of tasks do individuals often do when using QuickBooks?

QuickBooks is accounting software that is easy to use and helps you save time and effort by automatically recording, categorizing, and reporting all of your financial information.

You can download QuickBooks here. Accounting, billing, tracking time, handling sales taxes, creating budgets, and reconciling bank accounts are just some of the tasks that may be automated by this software.

Q5. Which list in QuickBooks do you consider to be the most crucial?

Your Chart of Accounts is the most important list you have because each transaction you record in QuickBooks will have some kind of impact on one of the accounts in your chart of accounts.

Your financial reporting is built on a solid foundation: the Chart of Accounts. Important reports, such as the Profit and Loss report and the Balance Sheet report, can be crafted with its help.