QuickBooks vs. Quicken

The differences between Quick Books and Quicken

The ability to keep good financial records that are reliable is obviously an imperative objective of any organization or even individual. One of the popular methods that is widely used today to track and manage expenditures and financial spending are the software applications that include QuickBooks and quickens although it I has to be said that manual book keeping can also be sampled. The fact that both QuickBooks and Quicken are two aspects serving the same purpose of accounting does not in any way necessarily mean they are similar. The reality about the two software application is that each is distinct in its own making and this uniqueness is what should be used as a basis of identifying which one to use depending on the situation at hand.

The concept behind both QuickBooks and Quicken is basically the main business needs that they tend to be applicable. The applications from the software company Intuit are tailored to help their users in daily financial record keeping in the overall management of their business. The main point of distinction is however based on the primary user of either. In quickens, its main target remain individuals looking forward for an easy way to keep personal financial records or a relatively small business that is run by one person. As in the case of QuickBooks, its largely developed components of financial management such as inventory, invoices and financial statements makes it suitable for large business accounting and financial recording. The other point to note is that, as opposed to QuickBooks which are complex and largely developed, quickens are small and easy to use and understand particularly from a personal point of view. In terms of costs, the complex and advanced natureĀ  of QuickBooks certainly warrant a much higher cost depending on the version required by the user as opposed to the simple and less advanced quicken that are relatively less costly.

Notable differences between the two accounting software can further be analyzed through their features. In QuickBooks for example, the inventory control characteristics and the sales tax tracker makes it even more suitable for taxpaying business. Quicken on the contrary lack this features since they are involved in financial management from a personal level. QuickBooks also are gifted in the ability to produce payrolls while quicken certainly lack the same ability.