Wednesday, June 3, 2020
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Tips on Choosing the Best Financing Software

Quicken was originally a personal finance software introduced by Intuit in 1984. After they Quicken Home and Business serves as an integrated platform for business records and personal finance, the demand for the software elevated, and it became popular.

QuickBooks was also developed by Intuit and introduced in 1998. The main focus was to help the small business owners to maintain their accounting. The software was initially a big hit, but it slightly lacked the robustness, audit quality and the security.

Now let us see a little comparison of the features offered by both the software, so who’ll win, Quicken vs QuickBooks?

Features: Quicken vs. QuickBooks

Quicken

  *   Quicken Home and Business supports both personal and small business in single software. With Quicken you’re capable of switching from any of the accounting programs to the other instantly.

  *   Expense tracking: Quicken helps you to track and then categorize all your personal and business spending automatically.

  *   Quicken is capable of managing your taxes for you; the software can identify the business expenses and where you can deduct taxes in different areas like home-office expenses, supply costs, vehicle’s business mileage and more.

  *   Helps to track the financial performance of your business. Quicken is capable of providing profit and loss statements at any time required. You can keep track of the expenses and revenues and also the profit and loss you incur.

  *   There is a mobile application feature which makes the process easy to check balances and other banking information; you can also sync this information with your computer and mobile device and keep the income tax receipt handy or other important receipts.

QuickBooks

  *   QuickBooks focuses fully on the business perspective of finance. It is divided into New Business, Professional and Field Services, Product Sellers and Independent Contractor.

  *   Expense tracking: sync your credit card and bank details and also other accounts like PayPal to have transactions on one single platform. The software automatically categorizes your transactions.

  *   You can create expenditure estimates or proposals; send invoices and record receipts and payments against them.

  *  You can access to customized profit and loss statements, a statement for sales, expenditure and revenue statements and more. Data can be easily imported into QuickBooks from spreadsheets without making much hassle.

Compatibility

  *   Quicken is available for Windows, Mac and also you can access it online.

  *   QuickBooks, for now, is available on Windows and online. The software for Mac is limited to North American users only.

This is a tiny insight into both the financing software for you to make a sound decision on which one should you avail and if all that is mentioned fits your requirements.