Quicken vs QuickBooks: Which is Best for Small Businesses?

Small businesses have to choose from a wide variety of accounting software solutions, and this range of choices can be overwhelming.

Research shows that 64% of small businesses use accounting software and the market for accounting software solutions is projected to be worth $4.3billion by 2023. It’s safe to say if you are not using an accounting software solution for your business right now, you will be getting one soon.

There are many good products in the market that provide you with all of the features you need, but we will only focus on Quicken and Intuit’s QuickBooks Online. We will compare both software solutions by outlining their key features so that you can decide which is best for your small business.

Comparison of both platforms will use the following criteria:

  • Features
  • Ease of use
  • Integrations
  • Mobile app
  • Customer support
  • Pricing
  • User reviews

What is The Major Difference Between Quicken and QuickBooks?

The main difference between Quicken and QuickBooks is that Quicken is primarily a personal finance management software while QuickBooks is a full-featured small business accounting software.

The two platforms are aimed at different audiences. Quicken includes features that let users view the complete picture of their personal finances on a single dashboard. Users can view banking information, track monthly bills, track investments, manage credit card accounts, and much more.

Quicken has five different product packages for its software, but only Quicken Home & Business includes business accounting features. You should note that we will only discuss Quicken Home & Business in this article.

On the other hand, QuickBooks is a double-entry accounting software that lacks the personal finance features of Quicken but comes with much more robust bookkeeping, accounting, and financial management features. This article will focus on QuickBooks Online, which is by far the most popular version of QuickBooks among small businesses.

Let’s break down both accounting solutions to see how they compare.

Quicken vs QuickBooks: Features

Both platforms offer a core range of features that optimize each software to best serve their target customers. Quicken’s features are optimized for personal finance management, but there are also small business management features that will cater to the needs of most freelance and home-based businesses.

The Quicken platform also comes with a host of useful features for managing rental property.

QuickBooks is clearly the more small business-oriented platform with features for tracking business income, expenses, and for generating financial statements.

Quicken Features

Personal Finance Features

  • Monitor and manage your personal finances on a single dashboard
  • View your bank balances in real-time and track all your transactions
  • Personal budgeting
  • Identify common expenses and spending trends
  • Track the performance of your investments
  • Stay safe with the knowledge that your financial information is secure and encrypted with robust 256-bit encryption
  • Guaranteed full access and ownership of your data
  • Manage everything on the go with the Quicken mobile app

Features for Home, Freelance, and Consultancy Businesses

  • Separate your personal finances from your business data
  • Invoicing features that let you generate your own invoices with your custom logo and payment links
  • Set up reminders for unpaid invoices
  • Track business income and expenses
  • Generate cash flow reports
  • Generate profit/loss projections
  • Monitor business health with profit and loss reports
  • Simplify your taxes with custom tax reports

Managing Rental Property

  • Manage rent payment with email reminders and receipts
  • Track rental income
  • Track lease terms, rental rates, and tenant deposits
  • Send rent reminders that include PayPal links to ensure you get paid faster
  • Generate reports on your property portfolio

QuickBooks Features

The following are some of QuickBooks’ most notable features:

  • Send estimates
  • Invoice and accept payments
  • Batch invoices and expenses
  • Capture and organize receipts
  • Track sales and sales tax
  • Manage cash flow
  • Manage accounts payable and accounts receivable
  • Inventory management
  • Track income and expenses
  • Manage and pay bills
  • Track profitability
  • Maximize tax deductions
  • Run reports
  • Business analytics and insights
  • Manage 1099 contractors
  • Mileage tracking
  • Time tracking
  • Automate workflows
  • Customize access role
  • Include up to 5 users (25 users in the Advanced version)

Takeaway

Quicken’s features let you manage your personal finances, run a small freelance business, and manage your property portfolio, while QuickBooks’ features give you all the tools you need to manage the financial aspect of your small business.

Quicken vs QuickBooks: Ease of Use

Both platforms offer excellent user experiences with dashboards that are composed of beautifully designed graphs, charts, widgets, and sidebars.

Quicken is more of a desktop platform, and you can’t get the full set of features on the mobile app. This means you need your laptop or desktop to fully utilize Quicken.

QuickBooks is different; it is a cloud-based solution and you can access all the features on the web across all your devices.

Quicken Ease of Use

Quicken is less intuitive than QuickBooks because it combines personal finance management, business accounting, and rental property management.

You may face a learning curve when setting up the platform and customizing it for your needs. However, the platform is very easy to use once you get acquainted with it.

QuickBooks Ease of Use

QuickBooks is more user-friendly than Quicken. It is easy to set up because it is a web-based platform, and it is easier to perform tasks and generate reports because tasks are grouped into workflows. The sidebar also includes links to all the workflows on the platform, which lets you navigate the platform easily.

However, the more advanced features do have a learning curve.

Takeaway

QuickBooks is easier to use because the onboarding process is smoother, and it’s organized around workflows which makes navigation easier. Quicken is not confusing to use, but there is a learning curve for new users.

Quickens vs QuickBooks: Integrations

QuickBooks supports an extensive list of integrations, while Quicken only offers a handful of integrations that simply let users receive and make online payments.

Quicken Integrations

Quicken supports the following integrations:

  • MuniBilling (billing and property management)
  • NeatBooks (scan receipts)
  • Itemize (receipt data extraction)
  • PayPal (online credit card payments)
  • Dropbox (storage of documents like property contracts and rental agreements)
  • Zillow Zestimate (property management)
  • QuickBooks (accounting)

QuickBooks Integrations

  • QuickBooks Online supports more than 400 integrations, and some of the popular apps available to QuickBooks users are:
  • Bill.com
  • LivePlan Business plan tool
  • Veem
  • PayPal
  • Square
  • Plooto
  • Synder
  • Shopify
  • MailChimp
  • Gusto
  • Stax

As a small business owner, it is likely that you are already familiar with Stax. It is a subscription-based integrated payment platform that helps you process credit card payments.

Learn More

Stax offers the lowest cost of accepting credit cards among all merchant account providers. It offers the true cost of interchange without any additional charges. The platform also integrates seamlessly with QuickBooks Online.

Takeaway

QuickBooks beats Quicken hands down in terms of the range of integrations the platform supports. If support for third-party software solutions is something you want from your accounting software, QuickBooks is the best option for you.

Quicken vs QuickBooks: Mobile App

Both Quicken and QuickBooks support mobile apps that are available on the IOS and Android app stores. However, since Quicken functions best on a desktop platform, so the features available on its mobile app are quite limited.

Quicken Mobile App

Although it is limited compared to the desktop version, Quicken’s mobile app still lets you perform some useful tasks including:

  • Viewing bank transactions
  • Viewing account balances
  • Tracking invoice payments
  • Sending receipts
  • Viewing your budget

However, you can’t perform time-sensitive tasks like creating invoices or generating reports on the mobile app.

QuickBooks Mobile App

QuickBooks is a web-based platform which means your data is synced across all your devices on the cloud. The mobile app lets you complete most but not all of the tasks you can do with your laptop including:

  • Creating customer invoices
  • Taking pictures of receipts and attaching them to invoices
  • Generating vendor bills
  • Adding new customers and vendors
  • Tracking time and mileage

Takeaway

QuickBooks’ mobile app is much more robust and useful than Quicken’s mobile app. You can complete most tasks directly on your phone, which is impossible with Quicken’s mobile app.

Quicken vs QuickBooks: Customer Support

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 both platforms to help you out anytime you are stuck.

Quicken Customer Support

Online Help Portal

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.

Live Support

Quicken’s live support team is available from Monday to Friday between 5am to 5pm. You don’t need your login details to get in touch with the phone support team.

Live Chat

Quicken’s live chat will give you access to an expert every day between 5am to 5pm.

QuickBooks Customer Support

Online Help Portal

Business owners can access the QuickBooks online help portal to get articles and video tutorials that answer just about any question you may have. There are also free training courses and a QuickBooks blog.

Phone Support

Phone support is available Monday through Friday between 6am to 6pm.

Takeaway

Both companies offer excellent customer care services that will meet the needs of most business owners. You can take advantage of online chat, phone support, and online FAQ pages from both companies.

Quicken vs QuickBooks: Pricing

If Quicken has one major advantage over QuickBooks, it is that its pricing is less expensive than QuickBooks’ subscription plans. One thing to note is that Quicken only offers annual subscription plans, while QuickBooks offers monthly plans.

Quicken Pricing

Quicken offers a 30-day free trial and you can change your subscription plan at any time. It offers four different packages, but the most advanced package, Quicken Home and Business, is not available on Mac.

It offers four pricing plans including:

  • Starter: $35.99/yr
  • Deluxe: $46.79/yr
  • Premier: $70.19/yr
  • Home & Business: $93.59/yr (only available on Windows)

The Quicken Home and Business package is the most relevant for small business owners and rental property owners since it is the only plan that offers features tailored to businesses.

QuickBooks Online Pricing

New users get 50% off for the first three months of the monthly subscription, and there are only three plans for QuickBooks Online. You should note that the range of features available in each plan is different and only the Advanced plan has the full set of features. However, the Plus plan is very popular among subscribers and it offers all the features most small businesses will need.

The QuickBooks Online pricing plans are:

  • Simple Start: $25/mo (50% off for three months)
  • Plus: $40/mo (50% off for three months)
  • Advanced: $90/mo (50% off for three months)

Takeaway

Quicken is much cheaper than QuickBooks; however, it offers fewer features, fewer integrations, and less functionality overall when compared to QuickBooks. 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.

If you need a full-featured accounting software solution that syncs seamlessly across all your devices, then QuickBooks is well worth the extra cost.

QuickBooks vs Quicken: Customer Ratings

Both platforms have excellent customer reviews. Freelancers, property owners, and people who use Quicken to manage their personal finances are happy with the platform.

Business owners that need a robust accounting software to track multiple transactions on a day-to-day basis and to generate detailed reports are happy with QuickBooks.

Quicken Customer Reviews

We analyzed both positive and negative reviews from Quicken users. Positive reviews praise its price point, ease of use, and range of personal finance management features.

Negative reviews complain about limited third-party integrations and that the platform can occasionally be glitchy.

QuickBooks User Reviews

Positive reviews praise the company’s excellent mobile app, the breadth of features that are standard on the software, and how seamlessly the platform integrates with third-party apps.

Negative reviews complain about less-than-stellar customer support and the fact that the advanced features can present a learning curve to new users.

Takeaway

Reviews for both platforms are quite positive, and how you interpret the feedback from users depends on the specific needs of your business.

Which Accounting Software Platform is Better?

The best software solution among the two is clearly QuickBooks. It provides all the features available on Quicken minus personal finance management and rental property management features.

It is also robust enough to scale with your business. You can start with the Simple Start plan and as your business grows, you can upgrade to another package. QuickBooks is simply a much better, flexible, and accessible accounting solution for small businesses than Quicken.

When to Use Quicken

If you need a tool that is predominantly a personal finance management software that also lets you manage a small freelance business and your property portfolio, go for Quicken.

When to Use QuickBooks

QuickBooks can do pretty much any accounting-related task, except that it is not optimized as a personal finance tool like Quicken. Use it if you need robust software that lets you track your business’ finances and leverage third-party business tools like Stax.

If you’re a QuickBooks user looking for a robust integration with your payment processor, get in touch with Stax. Our seamless integration with QuickBooks makes it easy to reconcile your accounts, view payment reports, and more.

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