QuickBooks vs Quicken: Features & Fees Comparison Guide

QuickBooks Online is the most popular accounting software in the United States. Many small businesses use it because of its robust invoicing, billing, inventory, and bank reconciliation features. It also offers assisted bookkeeping through QuickBooks Live and tax assistance via TurboTax. Its vast network of ProAdvisors makes it easy to find independent bookkeepers and certified public accountants (CPAs) who can provide monthly bookkeeping and tax compliance services for your business.

Key Features of Quicken

Currently, the software is available for purchase and use in the United States and in Canada. The interface is cleaner and simpler and it’s easier to find what you need. One of the biggest differences between Quicken and QuickBooks is the fact that QB charges monthly, while Quicken’s software is an annual license. However, if you’re looking for a more specific breakdown of what key benefits and drawbacks each software has, we’ll cover that in these next two quicken bookkeeping sections. The reorder point is another useful feature that’ll help QuickBooks maintain optimal stocks. If it detects that a certain item is below the reorder point, users will receive an alert to replenish stocks, avoiding stockouts.

Tax & Accounting

Quicken’s online help portal answers popular FAQs including questions about installation, product updates, online banking, planning tools, integrations, and more. There is also a link to the online forum where you can reach out to other users. Both companies offer solid customer support options with an emphasis on live support and online resources. There is also a large community of users on online forums for petty cash both platforms to help you out anytime you are stuck. Stax offers the lowest cost of accepting credit cards among all merchant account providers. QuickBooks is clearly the more small business-oriented platform with features for tracking business income, expenses, and for generating financial statements.

Quickbooks to Snowflake Data Migration: 2 Easy Methods

• However, the features are more geared towards budgeting than accounting, so your specific needs matter most.
• With capabilities such as detailed financial reporting, payroll management, and sophisticated inventory tracking, larger businesses can maintain a comprehensive overview of their financial stance.
• QuickBooks is the go-to solution for full-scale small businesses needing detailed accounting tasks, including those desiring seamless third-party integrations like Stax.
• Users can also add QuickBooks Bill Pay to QuickBooks to make bill payments easier and faster.
• Additionally, since QuickBooks Online is designed for small businesses, the interface is much more approachable and user-friendly.
• Quicken’s personal finance management features make it the best pick for individuals wanting an app that can handle both personal income and expenses, investments, and other business income.
• True alternatives will provide the ability to manage a firm’s accounting books, send payments, create and send invoices, collect payments, and budget.

Both are financial management tools and even share a few features and functions, but the two software programs are built for entirely different uses. Choosing between QuickBooks Online or downloading the desktop version boils down to pricing and https://www.bookstime.com/articles/negative-retained-earnings accessibility. QuickBooks Online is cloud-based, making it easy to access anywhere with online connectivity but it charges a monthly subscription.

Online & Phone Support

Users can also add QuickBooks Bill Pay to QuickBooks to make bill payments easier and faster. With Bill Pay, you can pay vendors and contractors directly within QuickBooks. However, Bill Pay comes at an additional cost if you have more than five payments per month. Otherwise, you can sign up for free on Bill Pay and get five free ACH payments per month. Quicken has a feature called Bill Manager, which has Quick Pay and Check Pay features.